The Federal government has warned that the organised labour’s proposed N494,000 new minimum wage has the potential to cripple the country’s economy.
Mohammed Idris, Minister of Information and National Orientation, announced this during a press briefing in Abuja in response to organised labour demands and indefinite strike action.
The minister complained that the N494,000 minimum wage proposal will result in a N9.5 trillion financial burden for the government.
According to him, they had decided to raise the country’s minimum salary by 100%, from N30,000 to N60,000, in accordance with present economic realities.
He scowled at the organised labour’s request for a 1.547 percent increase in the minimum wage.
He pointed out that labour’s N494,000 minimum salary demand will compel the federal government to reduce its 1.2 million workers, which does not bode well for the country’s economy.
“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 stated.
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cc: Daily Post Ng
