“DECODING THE GOVERNORS’ REJECTION OF ₦62,000 MINIMUM WAGE: INSIGHTS FROM THE BUDGET MINISTER”

Babatunji Wusu –

Over the weekend, Atiku Bagudu, the Minister of Budget and Economic Planning, weighed in on the contentious issue of the proposed ₦62,000 minimum wage for Nigerian workers.

Bagudu clarified that governors’ hesitance to accept this figure is rooted in the limited financial resources available to states and local governments.

In his address, Bagudu underscored that while the ₦62,000 wage proposal is viewed as crucial for enhancing workers’ living standards, some states have reluctantly agreed due to their current constrained financial inflows.

“The fiscal challenges confronting states and local governments make it difficult to commit to such a minimum wage increase,” he explained.

Bagudu emphasized the constitutional provision guiding the periodic review of minimum wage legislation by the President and its submission to the National Assembly for optimal outcomes.

He also highlighted the administration’s focus on upskilling all Nigerians within a skill-based economy, aiming for significant income opportunities, including potential earnings in millions of naira.

“President Tinubu aims to foster prosperity through affordable housing, food, and transport, alongside national growth and development infrastructure,” Bagudu added.

Acknowledging efforts by President Tinubu and Governor Nasir Idris of Kebbi State to enhance living conditions across various sectors, Bagudu extended his commendations and congratulations during the Eid-el Kabir celebrations.