Adebayo Adenrele
The federal government has said the minimum wage of N494,000 being demanded by the organized labour will jeopardize the welfare of Nigerians and destabilize the economy.
The Minister of Information and National Orientation, Mohammed Idris, in a statement signed by his special assistant on Media, Rabiu Ibrahim, said the demand, which amount to N9.5 trillion bill is unsustainable as federal government is concerned about the welfare of Nigerians based on its Guiding Principle of Affordability, Sustainability, and the overall health of the nation’s economy.
Idris stated this at a news conference in Abuja in response to the threat by the organized labor to embark on strike if their demands were not met.
He said the offer of N60,000 minimum wage by the Federal Government, which translates to a 100% increase on the existing minimum wage of 2019, has been accepted by the organized private sector, which is a member of the tripartite committee of the negotiations team.
His words, “The Federal Government’s New Minimum Wage proposal amounts to a 100% increase on the existing minimum wage 2019. Labour, however, wanted N494,000, which would increase by 1,547% on the existing wage.
“The sum of N494,000 national minimum wage which Labour is seeking would cumulatively amount to the sum N9.5 trillion bill to the Federal Government of Nigeria.
“Nigerians need to understand that whereas the FG is desirous of ample remuneration for Nigerian workers, what is most critical is that President Bola Ahmed Tinubu will not encourage any action that could lead to massive job loss, especially in the private sector, who may not be able to pay the wage demanded by the Organised Labour,” he said.