The Federal Government has highlighted the significant hurdles it’s currently navigating, citing both substantial challenges and a revenue deficit, especially in light of a burgeoning population.
The Minister of Budget and National Planning, Atiku Bagudu, expressed his concerns, noting that the government is grappling with the task of meeting salary obligations due to financial constraints.
During a discussion in Abuja on Thursday, Bagudu earnestly appealed to non-governmental organizations, emphasizing the urgent need for their assistance in filling the financial gaps that the government is currently grappling with. This plea underscores the collaborative approach required to address the pressing economic issues and ensure the well-being of the nation’s citizens.
Speaking on the the rapid surge in Nigeria’s population, the minister decry the simultaneous upswing in unemployment against the backdrop of a soaring inflation rate.
“Government faces enormous challenges especially now; the government is facing a revenue deficit. There is no money anywhere in the country; the government is just managing to pay salaries.
“The growth rate is very slow and the population growth is fast pacing and increasing. Unemployment is surging in the midst of high inflation.”
President Bola Tinubu has given the green light to a substantial wage increase for federal civil servants. Reports earlier indicate that a generous sum of N35,000 has been approved as a wage award, marking a significant boost in the income of government employees.
The effective date for the new pay scale is slated for September 1, 2023, according to an official memo from the Presidency. The circular, signed by Ekpo U. O. Nta, the Chairman and Chief Executive Officer of the National Salaries, Incomes, and Wages Commission, outlines the details of this landmark decision.
Addressed to key figures within the government hierarchy, including the Chief of Staff to the President, Deputy Chief of Staff to the President, Ministers and Ministers of State, Secretary to the Government of the Federation, and the Head of the Civil Service of the Federation, among others, the memo bears the date of October 19, 2023.
This move is poised to have a far-reaching impact on the financial well-being of federal civil servants across various sectors. The comprehensive list of recipients of this circular highlights the widespread significance of this decision, emphasizing its importance in the broader context of national governance.