States Challenge FG’s N600bn Allocation for N70,000 Minimum Wage
State representatives at the recent Federation Accounts Allocation Committee (FAAC) meeting have voiced strong opposition to the Federal Government's decision to reserve an additional N600 billion from the federation’s revenue for the implementation of the new minimum wage. During the FAAC meeting held on August 16, 2024, it was revealed that the Federal Government transferred N200 billion into a non-savings account, bringing the total reserved funds to N595 billion. This decision, which affected the distribution of revenue to states, sparked significant debate among state finance commissioners. Akwa Ibom’s Finance Commissioner, Dr. Linus Noah, Delta’s Okenmor Tilije, and Ekiti’s Akintunde Oyebode were among those who raised concerns, arguing that the withheld funds should instead be distributed among the states to alleviate their financial difficulties. Despite an increase in gross revenue—from N2.48 trillion in June to N2.61 trillion in July—the FAAC distributed N1.36