Udo Udoma, the Minister of Budget and National Planning, Sen. Udoma Udoma, has revealed that the Federal Government would go into negotiations with pensioners after the bill on the new National Minimum Wage is approved by President Muhammadu Buhari.
This is coming on the heels of the approval of a new N30,000 minimum wage by the Senate.
Udoma said this when he appeared before the Senate Committee on Finance on Tuesday in Abuja to give explanations on the preparedness of the Federal Government to implement the new minimum wage.
Once we announce the minimum wage, we now enter into negotiations with those who are above the minimum wage.
So, we have to be prepared for that. We will be meeting with the finance committee on how best this minimum wage will be addressed both from the federal and the state governments.
Udoma also revealed that the Federal Government is considering the possibility of increasing Value Added Tax (VAT) in order to meet the new demand.