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Minimum Wage: Labours’ N494,000 demand will cripple economy – FG

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Mr Mohammed Idris, the minister of Information and National Orientation has said the N494,000 new minimum wage proposed by the organized labour could cripple Nigeria’s economy and jeopardize the welfare of over 200 million Nigerians.

He disclosed this during a press briefing in Abuja while responding to organized labour demand and indefinite strike action.

The minister lamented that the N494,000 minimum wage demand would amount to a N9.5 trillion expenditure burden to the government

“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.

Speaking further, the Minister appealed to the Organised Labour to return to the negotiating table and accept realistic wages for their members.

He said because of the commitment of the Federal Government to the welfare of workers, the wage award of 35,000 for Federal workers would continue until a new national minimum wage was introduced.

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