Minister of Budget and Economic Planning, Atiku Bagudu has shed light on the contentious issue surrounding the proposed N62,000 minimum wage for workers.
Bagudu, who acknowledged the importance of prioritising workers welfare, however, highlighted the challenges faced by state and local governments in accommodating such wage increase.
Explaining the governors reluctance to accept the N62,000 minimum wage proposal, the minister emphasised that it is because of the limited resources available to states and local governments.
He underscored the need for a balanced approach that considers the economic realities and fiscal capacities of each region to ensure sustainable implementation of the proposed wage increase.
While recognising the significance of improving the living conditions of workers through a higher minimum wage, Bagudu outlined the intricate balance between meeting the needs of workers and maintaining the financial stability of state and local administrations.
He stressed the importance of prudent financial management and strategic planning to navigate the challenges posed by the wage increment proposal.
