Despite President Tinubu having signed the new minimum wage bill into law, some state governors have not yet implemented the N70,000 salary rise, according to a report by The Punch. Several states have criticized President Bola Tinubu’s plan to set aside money for future financial stability, which includes implementing the new pay.CONTINUE FULL READING>>>>>
At the recent FAAC meeting, state representatives criticized Tinubu’s choice to reserve N600 billion for financial obligations, including the new minimum wage.
State finance commissioners expressed strong disapproval of the federal government’s move to add N200 billion to a non-oil savings account, which they believe negatively impacted their revenue distribution from the federation.
Minutes from the FAAC meeting on August 16, 2024, obtained by The Punch, indicate that N1.36 trillion was distributed among the three tiers of government, which is N1 billion less than the N1.35 trillion distributed in June.
Finance Commissioners from Akwa Ibom, Delta, and Ekiti raised concerns when they noted the government had transferred N200 billion into the non-oil savings account, totaling N595 billion.CONTINUE FULL READING>>>>>
