Edit Content
Tuesday, Nov 5, 2024
Edit Content
Reading: FG Begins New Minimum Wage Payment: Grade Level 8 Now Earns N1.48m Yearly
- Advertisement -

FG Begins New Minimum Wage Payment: Grade Level 8 Now Earns N1.48m Yearly

David Akinyemi
David Akinyemi 125 Views

The Federal Government begins payment of the new minimum wage, with Grade Level 8 employees now set to earn N1.48m annually.”

The Federal Government started paying out the new salary structure seven months after talks on a N70,000 minimum wage came to an end.

The increased wage will be paid to federal civil service employees at all levels beginning this month.

This modification will assist nearly 1.2 million civil servants who work for the federal government. The Federation’s Budget Office received a directive for the September salary payment, signed by Dr. Oluwatoyin Madein, the Accountant-General of the Federation, approving the payment of the increased wages.

An annual calculation of the salary that public employees will get under the Consolidated Public Service Salary Structure is provided in documents that were obtained from the National Income, salary, and Wages Commission.

As per the breakdown:

The yearly salary for grade one officers is N930,000, for grade two officers it is N934,160, for grade three officers it is N937,713, and for grade four officers it is N950,243.
Salary ranges for other levels are as follows:

Read Also: NLC, TUC React to FG N70,000 Minimum Wage Payment

Grade levels five and six are N973,123 and N1,041,786, respectively.
Seventh grade: N1,277,667
Eighth grade level: N1,479,276
Nineth grade: N1,641,226; tenth grade: N1,806,041.
Additional increases will be given to senior officers, with:

- Advertisement -
- Advertisement -

The yearly salary of grade 12 officers is N2,007,152; grade 13 officers are paid N2,182,637; grade 15 officers are paid N2,358,936; grade 16 officers are paid N3,611,689; and grade 17 officers—the highest level reserved for permanent secretaries—are paid N6,918,560.
Step promotions have an annual impact on pay, and salaries under each grade level will rise progressively based on the officer’s step within the level. A level one officer, for instance, will make N935,585, up to N1,008,209 by step fifteen.

“The new minimum wage payment begins today (Thursday) for this month’s salary,” declared Bawa Mokwa, Director of Press at the Office of the Accountant-General of the Federation, confirming the new wage’s adoption. Public employees should soon receive payment alerts.

A federal servant who requested anonymity further attested to the fact that certain employees had already begun to receive the increased compensation.

1,236,824 people are covered by the September salary breakdown, which includes personnel from Federal Universities, the Armed Forces, Departments, and Agencies.

After discussions with the Nigeria Labour Congress and Trade Union Congress of Nigeria, President Bola Tinubu signed the minimum wage bill into law on July 29, 2024, putting the new salary structure into effect. On that date, the agreed wage will formally go into effect.

The implementation of the new wage, including the 35% and 25% compensation adjustments for employees on specific salary structures like CONPSS, CONRAISS, and CONPASS, has begun, according to a letter from the Accountant-General dated September 24, 2024.

The letter further stated that N4.019 trillion (about N334.93 billion per month) would be spent by the Federal Government each year to pay public servant salaries. Furthermore, N52.32 million was set aside for the Federal University Teaching Hospital, which was recently established in Wukari and employs 239 people.

This payment is the result of the government’s efforts to raise more money for the new minimum wage, a move that significantly affected how much money was given to the states at the August FAAC meeting.

TAGGED:
Share This Article
- Advertisement -