Juliana Taiwo-Obalonye, Abuja

President Muhammadu Buhari, on Wednesday, named Bismarck Rewane, a financial and economic expert, as head of newly inaugurated Presidential Advisory Committee on New National Minimum Wage, at the Council Chambers, at the State House, Abuja.

Others on board are chairman of the Federal Inland Revenue Service (FIRS), Dr. Babatunde Fowler, ex-FIRS boss, Mrs. Ifueko Omoigui-Okauru, Dr. Ayo Teriba, Chief Executive Officer, among others.

The committee has a month to complete and summit its report.

The inauguration took place shortly before the commencement of the first Federal Executive Council (FEC) meeting for the year.

President Buhari said also those earning above the new minimum wage, their salaries would be renegotiated.

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This is coming a day after the government and organised Labour agreed to forward the new National Minimum Wage Bill to the National Assembly on or before January 23.

The organised labour had, in December 2018, rejected any attempt by the Federal Government to set up another committee on the national minimum wage, describing any such plan as diversionary and delay tactics.

President Buhari had, during the budget proposal presentation, promised a new minimum wage which he said would help maintain jobs for the teaming unemployed.

He had also promised to set up a special committee to look into the current fiasco concerning the minimum wage and come up with ideas of reducing debt and yet, increasing the minimum wage.

“We have included the implementation for the National Minimum Wage. I will be sending a Bill to this National Assembly, on this.

“To avoid a system crisis on the Federal Government and states, it is important to device ways to ensure that its implementation does not lead to an increase in the level of borrowing.

“I am accordingly setting up a high-powered technical committee to advice on ways of funding an increase in the minimum wage and attendant wage adjustments without having to resort to additional borrowing.

“The work of the committee will be the basis of finance bill which will be submitted to the national assembly alongside the minimum wage bill.”

Amal Pepple National Minimum sage Committee submitted its report in November.

Details later…