• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • ICPC Secures Conviction of Rector for Running Unaccredited Degree Programmes

      Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

  • Fact-Check
  • Economy
    • FG Inaugurates Boards, Management Teams of Three Regional Development Commissions

      Trade Facilitation: Nigeria Customs, NACCIMA Strengthen Partnership

      Economic Confidential to Host 3rd Public Lecture, Unveil Books on Nigeria’s…

      Luanda Summit: AUDA-NEPAD Taps AI, Green Bonds as it Launches Marketplace…

      Tinubu Jets to Brazil After Japan Summit, Eyes Trade, Security Deals

  • National
    • Minister of Interior Olubunmi Tunji-Ojo

      Para-Military Agencies Get 12-Month Deadline to Deliver Reforms

      Troops Sustain Offensive Against Bandits, Eliminate Scores in North West, North…

      Police Officer

      Police Rescue Abducted Senior Officer in Sokoto, Arrested UNILAG Lecturer Over…

      FG Inaugurates Boards, Management Teams of Three Regional Development Commissions

      Nigerians to Receive Passports Within 7 Days, Says Interior Minister

    • Government
      • Supporters of Senator Shehu Buba

        PHOTOS: Bauchi Constituents Rally APC to Draft Senator Buba for 2027…

        Pantami Foundation Pays Outstanding Fees for Gombe Students at BUK

        Almajiri

        TRAVELOGUE: Kaduna Almajiris and A Parley Inside Arewa Forum’s House By…

        PRNigeria logo fearured image

        OHCSF Celebrates 57 Retirees for Exemplary Service and Dedication

        FG Inaugurates Boards, Management Teams of Three Regional Development Commissions

  • Security
    • Minister of Interior Olubunmi Tunji-Ojo

      Para-Military Agencies Get 12-Month Deadline to Deliver Reforms

      Erasmus Ikhide Narrowly Escapes Death in Collision with Dangote Truck

      Troops Sustain Offensive Against Bandits, Eliminate Scores in North West, North…

      Police Officer

      FCT Police Arrest 10 Suspected Drug Dealers, Recover Drugs, Kidnapping Proceeds

      Nigerian Police Force

      Security Forces Bust Child Trafficking Syndicate, Arrest 5 Suspects in A’Ibom

  • Features
    • Gen. Christopher Gwabin Musa CDS

      CDS Musa Launches Operation Enduring Peace, Tasks Troops to ‘Win Peace,…

      Almajiri

      TRAVELOGUE: Kaduna Almajiris and A Parley Inside Arewa Forum’s House By…

      Armed officers of the Mining Marshals

      ‎NSCDC at the Heart of Nigeria’s Mining Sector Revival ‎By Zekeri…

      Nigerian Youths

      National Unity as Nigeria’s Strongest Development Tool, By Mukhtar Ya’u…

      How Security Forces Calmed, Secured, and Evacuated Passengers after Kaduna-Abuja Train…

  • State
    • Minister of Interior Olubunmi Tunji-Ojo

      Para-Military Agencies Get 12-Month Deadline to Deliver Reforms

      Erasmus Ikhide Narrowly Escapes Death in Collision with Dangote Truck

      Troops Sustain Offensive Against Bandits, Eliminate Scores in North West, North…

      Police Officer

      FCT Police Arrest 10 Suspected Drug Dealers, Recover Drugs, Kidnapping Proceeds

      Nigerian Police Force

      Security Forces Bust Child Trafficking Syndicate, Arrest 5 Suspects in A’Ibom

  • Event
    • Erasmus Ikhide Narrowly Escapes Death in Collision with Dangote Truck

      Supporters of Senator Shehu Buba

      PHOTOS: Bauchi Constituents Rally APC to Draft Senator Buba for 2027…

      The authors and their books

      PHOTOS: NIPR Hails Latest PRNigeria Books at Economic Confidential Lecture

      Alh. Yushau Shuaib, Brig Gen. (rtd) Chris Olukolade and Mallam Kashifu Inuwa

      NITDA, IMPR Spotlight AI as Driver of Nigeria’s Digital Future at…

      DICON and DMG Events to Co-Host AFRIDEX 2026

      DICON, DMG Events to Co-Host Africa Defence Exhibition 2026

    • PR Nigeria Award
  • E-Paper
Home Government Minimum Wage: Technical Committee to look for additional revenues – Udoma
  • Government

Minimum Wage: Technical Committee to look for additional revenues – Udoma

By
Akpandem James
-
January 17, 2019

Minimum Wage: Technical Committee to look for additional revenues – Udoma

The Minister of Budget and National Planning, Senator Udoma Udo Udoma, at the weekend explained that the Technical Committee on the Implementation of a new Minimum Wage inaugurated last Wednesday by President Muhammadu Buhari is to, amongst other things, identify additional sources of revenue to ensure that government can meet the increased costs that will arise from the implementation of a new minimum wage without affecting government’s ability to meet the other obligations of government, particularly with respect to the ambitious infrastructure development plans of the Government.

Senator Udoma who was interacting with media editors in Lagos explained that whenever a new minimum wage bill is enacted there are demands for some wage increases even from those already earning more than the new minimum wage. All these salary increases will impose additional costs on Government.

Therefore the committee is expected to make suggestions as to how government can raise additional revenues to ensure that Government can still meet its expenditure on other services such as education, health, infrastructure and other important functions of Government, after paying the increased salaries.

“The committee is expected to, amongst other things, look at how to get additional revenues so that as our wage bill goes up, we are able to increase our revenues to ensure that our spending on capital projects, our spending on basic infrastructure, our spending on health, our spending on education and others is not reduced. In short, the committee is to advise on ways to ensure that notwithstanding the increase in payroll costs, there continues to be adequate funding for other government activities. This is not just for the 2019 fiscal year, but going forward, thereafter.”

On the issue of the budget deficit, the Minister said government is proposing to bring it down slightly from the N1.95 trillion projected for 2018 to N1.895 trillion in 2019. This, he said, is 1.3% of Gross Domestic Product (GDP), well within the 3% limit set by the Fiscal Responsibility Act.

Read Also:

  • Para-Military Agencies Get 12-Month Deadline to Deliver Reforms
  • Erasmus Ikhide Narrowly Escapes Death in Collision with Dangote Truck
  • Troops Sustain Offensive Against Bandits, Eliminate Scores in North West, North Central Regions

As regards the debt service to revenue ratio, he assured that as our revenue situation improves that ratio will come down.

As the Minister emphasized “Nigeria does not have a debt problem, as such. Our debt is within prudent limits. However, we need to optimise our revenue generating potential. This will bring down our debt service to revenue ratio. Given the size of our economy we can, and should, be doing better, in revenue generation. This explains our focus as a Government on revenues and revenue generation.”

With regard to the complaints that the budget was small, the Minister explained “Some commentators have complained that the 2019 Budget Proposal is too small. They would like us to have a larger budget. All of us in Government would also like Nigeria to have a larger budget. Indeed as our revenues grow we will be able to expand our budget size. In truth, though we have increased our budget size significantly since we took over Government in 2015, our budget size is still far too small to meet all our needs.

“However, we are limited by the size of our revenues. Our current proposal for 2019 represents the maximum size that we believe we can prudently fund from our revenue and debt sources. There is no point announcing a large budget that you cannot fund. As we are able to generate more revenues in future we will be able to continue to increase the size of our budgets.”

Also speaking on the issue of unemployment, the Minister explained that Government was working hard to improve the enabling environment for economic expansion which will lead to the creation of additional jobs. He was confident that as the various initiatives of the Economic Recovery and Growth Plan (the ERGP) continue to be implemented we will be able to create jobs at a rate that is much faster than population growth, thereby bringing down the unemployment figures.

“Most of these jobs will be created in the private sector particularly in agriculture, construction, manufacturing, trade and services. He pointed out that many of the major economic indices are showing signs of improvement. These are the reasons the Minister indicated that he is very optimistic about the future development trajectory of the country.

Signed
Akpandem James
Special Adviser (Media) to the Hon. Minister

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • Minimum Wage
  • Senator Udoma Udo Udoma
  • Technical Committee
Previous articleFG Appoints Balarabe New Medical Director
Next articleNavy: Admiralty University Commences Academic Activities
Akpandem James
Akpandem James
http://www.PRNigeria.com

RELATED ARTICLESMORE FROM AUTHOR

Supporters of Senator Shehu Buba

PHOTOS: Bauchi Constituents Rally APC to Draft Senator Buba for 2027 Governorship Race

Pantami Foundation Pays Outstanding Fees for Gombe Students at BUK

Almajiri

TRAVELOGUE: Kaduna Almajiris and A Parley Inside Arewa Forum’s House By Lawal Dahiru Mamman

PRNigeria logo fearured image

OHCSF Celebrates 57 Retirees for Exemplary Service and Dedication

FG Inaugurates Boards, Management Teams of Three Regional Development Commissions

Minister of Interior Olubunmi Tunji-Ojo

FG Unveils 8.3 Petabyte Data Centre to Power Digital Identity, Immigration Systems

Minister of Interior Olubunmi Tunji-Ojo

FG Okays Lifetime Salary for Retiring Senior Officers – Tunji-Ojo

Gombe Governor Meets VON DG; Pledges Continued Support, Robust Partnership

Inspector-General of Police Kayode Adeolu Egbetokun

IGP Egbetokun Urges Global Action on Cattle Rustling, Bio-Nuclear Threats in Africa

court Judiciary

Law Firm Challenges EFCC Statement Over Bauchi High Court Ruling

DG VON Jibrin Baba Ndace

Ndace and the ‘Voice’ of Vision By Ahmed Balarabe Sa’id

President Bola Ahmed Tinubu

Tinubu Vows Tech-Driven Development, Food Security, Urges Diaspora Participation

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Para-Military Agencies Get 12-Month Deadline to Deliver Reforms
  • Erasmus Ikhide Narrowly Escapes Death in Collision with Dangote Truck
  • Troops Sustain Offensive Against Bandits, Eliminate Scores in North West, North Central Regions
  • FCT Police Arrest 10 Suspected Drug Dealers, Recover Drugs, Kidnapping Proceeds
  • Security Forces Bust Child Trafficking Syndicate, Arrest 5 Suspects in A’Ibom
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Para-Military Agencies Get 12-Month Deadline to Deliver ReformsErasmus Ikhide Narrowly Escapes Death in Collision with Dangote TruckTroops Sustain Offensive Against Bandits, Eliminate Scores in North West, North Central RegionsFCT Police Arrest 10 Suspected Drug Dealers, Recover Drugs, Kidnapping ProceedsSecurity Forces Bust Child Trafficking Syndicate, Arrest 5 Suspects in A'IbomPHOTOS: Bauchi Constituents Rally APC to Draft Senator Buba for 2027 Governorship RacePantami Foundation Pays Outstanding Fees for Gombe Students at BUKCDS Musa Launches Operation Enduring Peace, Tasks Troops to ‘Win Peace, Not Just War’TRAVELOGUE: Kaduna Almajiris and A Parley Inside Arewa Forum's House By Lawal Dahiru MammanOHCSF Celebrates 57 Retirees for Exemplary Service and DedicationAlake Orders Mining Marshals to Seal Illegal Gold Mining Site in GwagwaladaPolice Rescue Abducted Senior Officer in Sokoto, Arrested UNILAG Lecturer Over Rape AllegationFG Inaugurates Boards, Management Teams of Three Regional Development CommissionsNAF Reaffirms Commitment to Civilian Protection, International Humanitarian LawTroops Repel Bandit Attack on Military Base, Eliminate Scores in Niger
X whatsapp