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The National Negotiations Board (JNNB) has agreed to an increase in the minimum wage to NL800 Per month, effective 1 April 2023, if their is no objection within the 21 day of the document being laid in the Well of Parliament.
However, when the minimum wage was raised to Le500,000 in 2015, it was a little over $100 US dollars.
There are also concerns that the projected rise in the minimum wage (NL800) is equivalent to $40 and the dollar might have exceeded that amount by April 2023.
It is an open secret that Sierra Leone’s Finance Ministers and the Bank governor have been struggling to come up with sound economic policies to cushion the soaring cost of living as Ukraine Russia War escalates and the Global economic crunch.
Meanwhile, Sierra Leone’s President, Dr. Julius Maada Bio has called on the new Minister of finance Sheku Ahmed Fantamadi Bangura to Join him find solutions to Sierra Leone’s peculiar economic challenges.
President Bio made the call after Minister Sheku Bangura had taken the oath of office on Monday 16th January 2023 at the state house in Freetown.
The minimum wage ought to be 1500, which is close to the current dollar rate of almost 2000. Sierra Leone’s government needs to find viable solutions to it’s dwindling currency as they scramble for re-election which is a few months ahead. So much time has been wasted and now they are seeking for last minute solutions because they need the support of the people who they plan to forsake after the elections.