Dr Samuel Nzekwe, former President, Association of National Accountants of Nigeria, has commended President Muhammadu Buhari for signing N30,000 Minimum Wage Bill into Law.
Nzekwe gave the recommendation in an interview with the News Agency of Nigeria in Ota on Friday.
NAN reports that the new minimum wage takes effect from April 18 as announced by the Senior Special Assistant to Buhari on National Assembly matters, Senator Ita Enang.
He noted that the development would no longer make workers complain of welfare.
According to him, the signing of the N30, 000 minimum wage bill into law is also a welcome development that will boost the purchasing power of Nigerian workers.
He, however, urged the workers to put in their best, to justify the increase in their wages.
The former ANAN president also advised the Federal Government to create environment that would enable the productive sector to thrive.
According to him, this is necessary so that the effect of rising inflation can be cautioned through the production of more goods and services.
He said: “The effect will also be on the nation’s recurrent expenditures, but the Federal and State governments must work out ways of paying the new minimum wage.”
Nzekwe further urged the Federal government to look for ways of widening the Value Added Tax net than increasing it.
He added: “Increasing VAT is indirectly using the other hand to collect the new minimum wage from workers and this will inflict more pain on them.”
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