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Minimum Wage: FG Cautions Labor About Mass Sacking if They Insist on N250,000

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The Federal Government has advised Organized Labor to examine the broader impact of its demands for an unrealistic minimum wage.

Mohammed Idris, the Nigerian Minister of Information and National Orientation,  passed down this advice on behalf of FG.

Further, the minister explained that the N250,000 minimum wage demand could be disastrous for the economy.

He noted it could lead to a mass sacking of workers, increasing poverty and causing problems for Nigerians.

Moreover, the President claimed that FG had reached an agreement with organized Labor during his speech on Democracy Day at Eagle Square in Abuja.

However, the labor unions have refuted President Tinubu’s claims.

Further, the Vice President of NLC, Prince Adewale Adeyanju, noted that negotiations on June 7 ended without an agreement.

Adeyanju represented the NLC president, who was away at an international Labor Organisation conference in Geneva, Switzerland.

Nigerians Relief Won’t Only Come Through Minimum Wage Increase, Says Information Minister

During the Wednesday Broadcast, Tinubu infuriated the Organized Labor when he mentioned something sensitive about the minimum wage.

He mentioned that his administration would submit an executive bill to the National Assembly based on the agreements reached in the minimum wage negotiations.

Notably, there was a prolonged negotiation involving Labor, the states, the private sector, and the federal government.

While the unions insisted on a N250,000 minimum wage, the federal government and the Organised Private sector opted for N62,000.

Moreover, the state governments offered N60,000, saying they can’t sustain any minimum wage above N60,000.

However, these offers are not acceptable to the unions as they consider them starvation wages.

Chris Onyeka, NLC Assistant Secretary General, said they would not accept N62,000 nor N100,000 as proposed by some economists.

While speaking at a Christian program in Abuja on Wednesday, the information minister strongly emphasized against an unrealistic min. wage.

He explained that a realistic wage system is crucial for safeguarding against mass retrenchment of workers.

Furthermore, he said that the relief the government plans for the citizens will not only come through wage increments.

Instead, efforts are being made to improve the cost of living, such as reducing transportation costs by 50%.

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