The Bola Ahmed Tinubu-led government has said that the N494,000 national minimum wage demanded by organized labor, totaling N9.5 trillion, would destabilize the economy and jeopardize the welfare of over 200 million Nigerians.
Minister of Information and National Orientation, Mohammed Idris, who said this in a statement signed by his Special Assistant (Media), Rabiu Ibrahim, mentioned that the Federal Government’s offer of a N60,000 minimum wage, representing a 100% increase on the existing wage, has been accepted by the organized private sector.
“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.
According to Idris, Labour was focused on the take-home pay of approximately 1.2 million workers, while the Federal Government prioritized the welfare of over 200 million Nigerians, guided by its principles of affordability, sustainability, and the overall health of the nation’s economy.
He urged the Organised Labour to return to the negotiating table and accept realistic wages for their members.
He noted that, due to the Federal Government’s commitment to workers’ welfare, the wage award of 35,000 for Federal workers would continue until a new national minimum wage is introduced.
(Daily Trust)
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