BREAKING: Oyo, Labour reach agreement on new minimum wage adjustment, takes effect January
Yinka ADETUNJI
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The Oyo state government and the organized labour have signed the agreement on the implementation of the new minimum wage and consequential adjustment.
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The agreement reached on Tuesday and signed by representatives of the two parties about one hour ago according to impeccable information will come to effect from January 1, 2024.
“The National Minimum Wage Act 2024 which inter alia increased the minimum wage for all workers in Nigeria from N30,000 to N70,000 and reduced the period of review of the minimum wage from 5 years to 3 years, was signed into Law by the President of the Federal Republic of Nigeria, His Excellency, Senator Bola Ahmed Tinubu, GCFR with effect from 1st July 2024.
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“Consequently, the Executive Governor of Oyo State, His Excellency, Engr. Seyi Makinde FINSE DSC GSSRS graciously approved the payment of Eighty Thousand Naira (N80,000.00) as the minimum wage in Oyo State and the constitution of a State Public Service Joint. Negotiating Council (Negotiating Council) comprising of the State Government and the Organized Labour, to work on the for all categories of workers in the State.
“After series of negotiation and collective bargaining between the two sides of the Negotiating Council, it was agreed as follow:
“1. the new minimum wage payable in the Public Service of Oyo State shall be N80,000.26 per month as per the table attached;
the consequential adjustments of the New Minimum Wage across all the levels and categories of workers in the State Civil / Public Service as per the table attached;
“III. that the New Minimum Wage salary structure shall be effective nominally from 1 July, 2024, and financially from 1 January, 2025;
“Iv. that the New Minimum Wage based salary structure is applicable to all the Ministries, Departments and Agencies of Government, Local Governments, Parastatals and Primary School Teachers in Oyo State;
“v. that this Agreement shall be re-visited in line with the National Minimum Wage Amendment Act, 2024;
“vi. that the application of the Pay As You Earn (PAYE) Tax system in the State shall be in strict conformity with the extant Tax Laws;
“vii. that all previously approved special and existing allowances should be maintained;
“vill. that the Pension in Oyo State should be reviewed as appropriate;
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“Ix. that all Public Servants should reciprocate the kind gesture of the Government by being hard-working, honest, loyal and committed to their duties;
“x. that all Ministries and Extra-Ministerial Departments should, as a matter of duty, be more aggressive in their revenue generation drive, to significantly improve the internally generated revenue of the State Government; and
“xi. towards this Agreement, the Negotiating Council noted the effort and commitment of the State Government in prioritizing the welfare of workers as well as the sacrifice and patriotism of the Organized Labour.”
