Imo gov moves to regulate food prices, okays new minimum wage

Imo gov moves to regulate food prices, okays new minimum wage 

Imo State Governor Hope Uzodinma has approved the increase in minimun wage for workers in the state to N40,000 to cushion effects of fuel subsidy removal.

Other measures announced by the governor include giving soft loans to farmers, and establishing commodity board to regulate prices of food and other essential items.

The governor disclosed this on Saturday while addressing members of the state executive council.

He said the economic situation caused by the removal of fuel subsidy was biting harder on the people.

This is contained in a statement by Oguwike Nwachukwu, the governor’s chief press secretary.

Uzodinma said his administration would give out soft loans, grants and provide seedlings with farm tools to qualified farmers in the state.

He said, “There shall be an immediate upward review of the salaries and wages of workers in the state.

“The minimum wage is hereby raised to forty thousand naira (N40,000) with discretionary consequential adjustments.”

He also said, “Apart from the free transport which the workers are already enjoying, I shall increase the fleet of buses carrying workers to and from work with ten more new buses.

“This is to ensure every nook and cranny of the state capital is captured in the routes that the buses ply, to bring the service closest to the doorsteps of every worker.”

He said plans had reached an advanced level to recalibrate the tax system in Imo State, hinting that those earning below N100,000 annually could be removed from the state’s tax net.

“I have discovered, with pain, how some traders are taking advantage of the economic situation to increase the prices of food items in the market.

“Against this backdrop, the government will soon establish Imo State Marketing and Commodity Board (ISMCB), which will ensure food items are sold at normal prices,” he stated.