States may sack 600,000 employees to implement minimum wage

More  and  more  states are  sinking  deeper into the  historic  pit  of  financial  crisis,  with  the  governments  of  Kano, Imo,  Adamawa  and Taraba  states  funding  staff  costs with about 40  percent  of their retained  revenues  from  last  year. 

  While the  crisis  of  financial  sustainability  has reached  worrying  proportions  in some states, many states  have  been  significantly  affected  and  are  spending  the  majority  of  internally generated revenue  (IGR)  on  paying  salaries, gratuities and  allowances.  |
 
    When  the Debt Management Office  (DMO)  announced  last  month  that  Nigeria's  public debt had  reached  121.67  trillion  naira,  comprising  N65.65  trillion  ($46.29  billion)  of  total domestic debt and  N56.02  trillion  ($42.12  billion)  of  multi-billion  foreign  debt, there was  a  widespread  feeling that the country would be crippled by  debt.
 
  Stay  up  to  date  with  these developing stories and read more in  today's  edition of The  Guardian.  |
 
  You can also visit www.| guardian.| ng.| 
 
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