Fg Might Increase Remuneration Of Workers – Osibanjo

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  1. Puah Omotueme

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    The Vice President of the Federal Republic of Nigeria, Yemi Osinbajo has said that the Federal Government (FG) considers increasing workers remuneration packages, especially bonuses of certain government agencies, instead of increasing wages across board.

    This was stated in a transcript which was made open to journalists at Abuja on Tuesday by the Senior Special Assistant on Media and Publicity matters to the Vice President, Mr. Laolu Akande.

    In the Transcript the Vice-President spoke during a session titled, ‘Conversation with the Vice-President’ at the 2017 Nigerian Bar Association National Conference in Lagos on Monday.

    The Vice President affirmed that though the issue of a better pay for workers was a good suggestion, the government was “in a bind of sorts.”

    He said that the government is already spending a 70 percent of its revenue on remuneration of workers and overheads, as less than 30 percent is for capital expenditure.

    He added that though the country needs a more effective civil service which will be well paid, but considering the need to increase revenue, there might be no need to the angle of the civil service.

    According to Osibanjo’s voice “Most times, this is a chicken and egg situation, because in order to increase revenues, remunerations have to be increased.

    “What we might end up doing is what we have done with some of our parastatals. So, improving remuneration will do a whole lot.

    “The present administration was to leave Nigeria with all the resources that could be brought forward” he said.

    The Vice President added that it is also the desire of the government administration to unveil transparency and efficiency to the country, in all aspect.

    Osinbanjo hence called on the Economic Community of West African States’ ( ECOWAS), to increase agricultural funds so as to reduce poverty in all sub regions.

    He made this statement in Abuja on Tuesday, during a 15th Annual General Meeting with the board of the governors of the Investment bank.

    He said that the need to boost funds to the agricultural sector became core as it is key to unlocking the growth and prosperity of the world.

    According to him the current situation where the economies of various countries were facing lapsed government revenues at the account of commodity slumps, declining economic growth and the challenges of creating jobs, have necessitated the need for the investment bank to intervene on behalf of member countries.

    It was also recorded that the challenges have already succeeded in placing a greater pressure on the governments of the member states of ECOWAS.

    In his words “since the population of the various sub region is dominated by youths, engaging all the implications for providing education and livelihood, then the challenges could smartly be placed in the hands of these youths so as to improve creativity and a foresight support for member countries.

    “So the most crucial issue of the now which could help to impact the future is on how the bank can help make difference in the lives of the youths” he added.

    Osinbanjo gave kudos to the investment bank, but noted that the need to galvanise more resources to enable an effective achievement is the core mandate.
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