Minimum Wage: Details of new adjustment formula agreed by FG, Labour

The Federal Government has finally reached an agreement on the adjustment formula for the implementation of the new minimum wage.

The agreement reached late Thursday night was made known by Festus Keyamo, the Minister of State for Labour and Employment.

This is after several attempts by the negotiating parties failed to bear yield fruits, six months after President Muhammadu Buhari gave his assent to the N30,000 new minimum wage.

“After some delicate negotiations (with both Ministers as conciliators) Government & Labour have finally reached an agreement on the consequential adjustments of other wages following the implementation of the enhanced minimum wage of N30,000. We are now working on the communique,” Keyamo tweeted Thursday night.

Mr Keyamo provided further information on the agreement which was signed by both parties.

The parties agreed that officers on CONPSS salary structures of level 07 should be adjusted to 23.2 per cent, level 08 gets 20 percent, level 09 was modified to 19 percent, level 10 to 14 was pegged at 16 percent while those on level 15 to 17 was adjusted to 14 percent.

While those at CONHESS, CONRAISS, CONRISS II, CONRIASS II, CONMESS, CONTEDDIS and CONPCASS on level 07  to equivalent gets 23.2 percent, that of level 08-14/equivalent is 16 percent while level 15-17/equivalent was fixed at 10.5 percent.

Speaking at the end of the meeting, the Minister of Labour, Chris Ngige, said the third category of the country’s wage structure which are military and paramilitary officers were also factored in in the agreement.

“Since they are not in the civil service , theirs will be communicated through the appropriate channels. Their percentages of increase is confidential,” he said.

With the new development, the Nigerian Labour Congress (NLC) will no longer embark on the planned industrial action it was warming up to.