FG Allocates Over N845bn for Minimum Wage Adjustments in 2025 Budget
By Patience Ikpeme
To address the recent increase in minimum wage, the federal government has earmarked a N845,284,513,819 in its 2025 budget. This decision follows the government’s recent approval to increase minimum wage to N70,000, a measure aimed at improving the living standards of workers across the nation.
Details of the budget were presented by President Bola Ahmed Tinubu to the National Assembly on Wednesday. The allocation for minimum wage adjustments is a central part of a broader budget designed to tackle various critical areas of national interest.
In addition to the earmarked funds for minimum wage, the budget also includes provisions for several other vital services. Notably, N10,955,324,281 has been allocated for the payment of debts owed to local contractors.
The budget also gave N17,313,619,734 to group life insurance for all ministries, departments, and agencies (MDAs), including the Department of State Services (DSS), as well as insurance for sensitive assets and corps members.
In terms of military funding, N100 billion has been allocated for ongoing operations, including the Lafiaya Dole military campaign and other critical armed forces operations, reflecting the government’s commitment to national security.
Additional allocations within the budget include N20 billion for the recapitalization of the Micro, Small and Medium Enterprises (MSMEs) Fund, N65 billion for the Presidential Amnesty Programme aimed at reintegrating former militants, N2.3 billion for the entitlements of former presidents, heads of state, and vice presidents, and N10,505,814,220 for the benefits of retired heads of the civil service of the federation.
This bold fiscal strategy is a reflection of the administration’s focus on strengthening the economy while addressing pressing social issues, including wage adjustments that affect countless Nigerian families. The National Assembly is expected to deliberate on the budget with expectations high for its timely approval to facilitate effective planning and implementation of key government initiatives.
