President Muhammadu Buhari yesterday received the report of the Presidential Technical Advisory Committee on the implementation of the New Minimum Wage (PTAC) and said the government would begin work on it immediately.
Receiving the report of the panel, chaired by the Managing Director of the Financial Derivatives Company, Bismarck Rewane, at the State House, Buhari said the report would be reviewed expeditiously.
The president constituted the 24-man panel in January 9 with a mandate to advise the government on how best to fund, in a sustained manner, the additional costs of implementing the imminent increase in the National Minimum Wage.
The panel was also asked to advise on the consequential increases in salaries and allowances for other employees, without worsening the already difficult fiscal condition, and without adversely impacting the nation’s development goals as set out in the Economic Recovery and Growth Plan (ERGP).
The committee was also required to propose a work plan and modalities for implementation of the salary increase.
Speaking after the presentation, the president said: “We will review this report expeditiously. In the process, we may need to engage with some members of your Committee, I, therefore, implore you to make your services available whenever we may call on you.”