• News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
MSME Africa
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
MSME Africa
No Result
View All Result

FG Raises NYSC Monthly Allowance to N77,000, Effective July 2024

Blessing Joseph by Blessing Joseph
September 27, 2024
in Economy, News
0
FG Raises NYSC Monthly Allowance to N77,000, Effective July 2024
Share

The Federal Government has officially increased the monthly allowance for National Youth Service Corps (NYSC) members to ₦77,000, effective from July 2024. This new development follows the enactment of the National Minimum Wage (Amendment) Act 2024.

The announcement was made in a letter from the National Salaries, Incomes and Wages Commission, signed by its Chairman, Mr. Ekpo Nta, on September 25, 2024. Caroline Embu, Acting Director of Information and Public Relations for the NYSC, confirmed the news via the NYSC’s official X (formerly Twitter) account.

“This increment, effective from July 2024, is in line with the National Minimum Wage (Amendment) Act 2024,” the statement read.

The increase comes after a successful advocacy visit by the NYSC Director General, Brigadier General YD Ahmed, to the National Salaries, Incomes, and Wages Commission. He expressed his gratitude to the Federal Government, highlighting that the allowance boost would offer “much-needed relief” to Corps Members and enhance their morale.

This marks the first significant raise in five years, following the last adjustment in 2019 when the allowance was increased to ₦33,000. The new increment adds an additional ₦44,000 per month, raising the total monthly allowance to ₦77,000, effective from July 2024. Corps Members can also expect retroactive payments covering any outstanding arrears from July.

The increase is aimed at alleviating financial pressures on Corps Members, helping them manage the rising cost of living amid inflationary pressures.

This allowance hike is part of broader changes following the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC)’s successful negotiations with the Federal Government. President Bola Tinubu signed the new National Minimum Wage Act into law in July 2024, raising the minimum wage from ₦30,000 to ₦70,000. The new law also shortened the review period for wage adjustments from five years to three.

 

While some states have yet to implement the new minimum wage, it is expected that more states will follow in the coming months.

This increase is seen as a critical step toward improving the welfare of NYSC members as they continue to contribute meaningfully to national development.

Post Views: 75
Share

Related Posts:

  • images (49)
    FG Begins Payment of N77,000 Monthly allowance to…
  • Top 15 Social Media Marketing Tools for Nigerian Entrepreneurs
    15 Social Media Management Tools That Will Make Life…
  • MSME Africa Unveils Top 50 Remarkable MSME Founders 2023, Awards them $25,000 in Media Credits
    MSME Africa Unveils Top 50 Remarkable MSME Founders…
  • Best Cities to live as an Entrepreneur in Nigeria
    Ultimate 2024 Guide to the Top Business Enabling…
  • Nigeria’s Minimum Wage Hike Benefits Just 4.1% of Workers, Warns World Bank
    Nigeria’s Minimum Wage Hike Benefits Just 4.1% of…
  • Call For Application: Policy, Partnerships and Funding Internship at Mercy Corps (€50 – per day)
    Call For Application: Policy, Partnerships and…
Tags: FGMSME AfricaMSME News in Nigeria todayNYSC Monthly Allowance
Previous Post

FCMB Empowers 30 Young Graduates Through Flexxtern Internship Program

Next Post

FG Proposes Redirecting 30% of TETFUND Revenue to Student Loan Fund

Next Post
FG Proposes Redirecting 30% of TETFUND Revenue to Student Loan Fund

FG Proposes Redirecting 30% of TETFUND Revenue to Student Loan Fund

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
Join MSME on Whatsapp
Subscribe To Our Newsletter
Enter your email to receive a weekly round-up of our best posts. Learn more!
icon
By subscribing, you agree with our privacy policy and our terms of service.

Recent Posts

  • Meta’s Exit Threat Puts Over Half of Nigerian MSMEs at Risk
  • Poor Infrastructure, Logistics Hinder African SMIs from Benefiting Fully from AfCFTA
  • JA Africa and Boeing Launch Youth-Focused STEM and Entrepreneurship Programmes in Nigeria, Togo
  • Nigeria’s Business Confidence Rises to +12.29 in April, but Structural Constraints Persist
  • OPay’s Security Questions Are Back and Smarter Than Ever

Recent Comments

  • 10 Reasons Why SMEs Should Invest in Video Marketing - MSME Africa on How to Create Viral Videos for Social Media in 2024
  • link alay4d on 5 Nigerian-based Companies Providing Accelerator Programs for Startups in 2024
  • Damilare Oladeji on Nigerian Government Agencies that Support Entrepreneurship in 2024
  • situs alay4d on 50 Best Tools to Boost Your Productivity as an Entrepreneur in 2024
  • Otabor Osayomore Blessing on Ultimate 2024 Guide to the Top Business Enabling Cities for Startup Founders and Entrepreneurs in Nigeria
  • About us
  • Advertise with us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.

No Result
View All Result
  • About us
  • Advertise with us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.