The Minister of Information and National Orientation, Mohammed Idris, has offered the reason why the Federal Executive Council stepped down discussion on the new minimum wage at its meeting in Abuja on Tuesday.
The Minister offered the reason when he spoke with State House Correspondents after the executive council meeting.
He said the report of the tripartite committee on the new wage was presented and deliberated on at the FEC meeting, but was stepped down to enable President Bola Tinubu to consult further.
Idris said this would allow the President to make an informed decision on it before sending a bill to the National Assembly for consideration.
He said: “We discussed the new minimum wage issue at the council meeting.
“The new national minimum wage is not just that of the Federal Government.
“It is an issue that involves the Federal Government, the State Governments, Local Governments, and the Organised Private Sector.
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“And, of course, the memo was stepped down to enable Mr. President to consult further, especially with the state governors and organised private sector.”
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, also briefed State House Correspondents on government finances and debts, including ways and means.
Edu said: “When we interrogate the figures over the first quarter of this year, starting from middle of December 2023 and the end of March this year, if we want to be positive, what we will say is that the glass is half full.
“We are halfway there.
“If not, we can be negative and try to say the glass is half empty.
“Why do I say this?
“The total debt stock of Nigerians in dollars terms fell by 15 percent.
“That is very positive.
“Any rating agency, any creditor, any investor looking at that will see it as a positive move.
“We are a country that has petrodollar.
“We have the ability to earn in dollars.
“So it’s highly relevant that we look at what our exposure is in dollars terms.”
According to Edun, on the other hand, the exchange rate increased by N8 trillion in actual debt issuance, and the total external debt and domestic debt in Naira terms had increased by 25 percent.
“That brings me to the foreign exchange movement, which can change tomorrow, as we know.
“Linked to that is the all important question of the government’s capacity to pay its way.
“Debt is all about the revenue to service it, and of course to use those funds properly, judiciously, accountably and in a way that gives positive returns.
“At no time have we gone to Mr. President to seek permission to go to the Central Bank to pay anybody, be it external debt service, be it share capital cash calls for any of the liabilities that the government has.”
Edun explained that as with all agencies, the government was focused on ensuring that the revenue due to it was collected robustly using technology, avoiding blockages associated with manual processing, which he said had led to a very robust revenue effort.
He added: “Likewise, we are implementing debts or expenditure controls, also very ably empowered by technology.
“Mr. President inherited a legacy of N3.4 trillion in outstanding ways and means, which have been securitised on the eve of the entry of President Tinubu’s administration.
“We are doing a forensic audit.
“We are interrogating that figure because it’s a liability, which we have to pay interest on.
“So, any deficit that you might see to the consolidated revenue account may be automatic debit on a figure that is still being interrogated.”
The Coordinating Minister of Health and Social Welfare, Prof. Muhammad Pate, also said the Council gave approval for the upgrade of key infrastructure in the country’s healthcare system.
Pate said that the Council approved the engagement of a transaction adviser to develop a public private partnership to expand, modernise and refurbish six teaching hospitals’ equipment.
The hospitals are: University of Nigeria Teaching Hospital, Enugu; University of Uyo Teaching Hospital; University College Hospital, Ibadan; National Hospital Abuja; Abubakar Tafawa Balewa University Teaching Hospital; and Usmanu Dafodiyo University Teaching Hospital, Sokoto.
The Minister said: “That is a massive upgrade of infrastructure.
“The transaction adviser will develop a full business case and then come back to the Council for approval for mobilisation to execute the contract over the next 12 to 20 months.
“The second item is the expansion of the pathology lab and the mortuary at the University College Hospital, Ibadan.
“The contract was awarded, and it also includes building hostels for nurses and other health professionals.
“That is under a PPP arrangement.”
Pate gave an update on diseases ravaging the country, particularly Cholera, which he said was discussed extensively, in addition to the emergence of yellow fever in Bayelsa State.
He said the National Centre for Disease Control was working with Lagos State, which has a very strong institutional ability to be able to contain the disease.
The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, said the Federal Government has approved the procurement of Mikano CNG vehicles for the National Drug Law Enforcement Agency.
Fagbemi said that the council also approved the procurement of two full body scanners for Lagos and Abuja international airports.
Also, the Minister of Works, David Umahi, gave an update on road projects across the country, assuring that by October, most of the ongoing road construction and rehabilitation would be completed.