The Director General, Budget Office of the Federation, Mr. Ben Akabueze, today said that government may explore the option of a supplementary budget to enable it finance the new minimum wage for workers if finally approved.
Akabueze, who disclosed this at the Media and CSOs Dialogue on the 2018 budget held in Abuja, pointed out that the fiscal proposals in the 2018 Appropriation Bill did not include the proposed minimum wage for workers.
He said: “When an agreement is reached, the financial implication would be quantified and if need be, there would be a supplementary budget.
“The only provision that exists is what we call public service wage adjustment, but that is barely over N40 billion provided on that line, and that may not be enough to cater for any adjustments that may be necessary”, Akabueze added
It would be recalled that President Muhammadu Buhari, in November last year inaugurated a 30-man Tripartite National Minimum Wage Committee, and charged it to come up with recommendations on fair and decent wage for Nigerian workers.
The President attributed the constitution of the Committee to the urgent need to review the national minimum wage for workers as the current minimum wage was no longer reflecting the socio-economic realities in the economy.
He expatiated: “We all know that the last minimum wage instrument has expired. It is in recognition of the need to ensure a fair and decent living wage that the Federal Government put in motion necessary mechanisms so that we can today inaugurate this large committee with a big task ahead of you.
“You are all aware that during the period following the increase in petrol pump price in May 2016, a technical committee was established to examine and make recommendations to government”, Buhari recalled.