Minimum Wage: NSIWC commences review process

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The National Salaries, Incomes and Wages Commission (NSIWC), has commenced the process for the National Minimum Wage revision, according to a  statement by Mr. Emmanuel Njoku, the NSIWC’s Head of Public Affairs, Monday in Abuja.

The statement said the commission had held a number of meetings and training sessions in preparation for the Minimum Wage Act 2019’s statewide monitoring, which was slated for review in 2024.

He claimed that the monitoring, which was scheduled to start on January 23, would determine the degree of compliance of both public and private enterprises and organizations. He said that the monitoring team will, among other things, look into whether firms maintain proper records of employee remuneration and working conditions.

The effort will inform both public and private enterprises and organizations on the financial advantages of upholding the payment of the National Minimum Wage. In order to improve the commission’s databank on staff compensation, it will also aid in gathering baseline information on the compensation practices and policies of private sector organizations.

The Federal Capital Territory (FCT) is included in the monitoring effort, which will include all 36 of the federation’s states, he said. Njoku stated that the Ministry of Labour and Employment, as well as the Ministry of Finance and National Planning, would be represented on the monitoring team for the exercise.

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