The Federal Government has rebuffed the organized labour’s call for a national minimum wage of N494,000, expressing concerns over its potential economic repercussions. Minister of Information and National Orientation, Mohammed Idris, highlighted during a news conference in Abuja that such a wage hike could strain the economy and negatively affect millions of Nigerians.
Idris stressed that the proposed wage increase would translate into an annual expenditure of N9.5 trillion, a figure deemed unsustainable for the country’s financial stability. The government’s current offer stands at a N60,000 minimum wage, representing a doubling from the 2019 rate, which has garnered acceptance from the organized private sector participating in the negotiations.
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Idris underscored the potential adverse effects, including significant job losses, particularly within the private sector, should the labor demand be met. He emphasized the administration’s commitment to fair remuneration for Nigerian workers while ensuring economic stability and job security.
The minister urged organized labor to resume negotiations to reach a more feasible wage agreement, highlighting the government’s dedication to worker welfare. Despite the government’s efforts to address labor concerns, the Nigeria Labour Congress has declared an indefinite nationwide strike starting June 2, 2024, following unsuccessful negotiations with the government.
