Federal Government has rejected the proposed national minimum wage of N494,000 demanded by Organized Labour.
According to FG, the demand could have far-reaching and devastating effects on the nation’s economy.
The Minister of Information and National Orientation, Mohammed Idris stated that the proposed wage would result in an annual expenditure of N9.5 trillion, a burden that would be too heavy for the nation’s finances to bear.
Idris explained that the Government’s current offer of N60,000, which represents a 100 per cent increase from the 2019 rate, is already a great concession and has been accepted by the Organized Private Sector.
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He warned that meeting Labour’s demand could lead to massive job losses, particularly in the private sector, and would be detrimental to the welfare of the entire population.
READ ALSO:FG Urges Labour Unions to Reassess Strike Decision
The Minister appealed to Unions to return to the negotiating table and agree on a more reasonable and realistic wage.
He reiterated the Government’s commitment to workers’ welfare, adding that the current wage award of N35,000 for federal workers will continue until a new national minimum wage is established.
The Nigeria Labour Congress has declared a nationwide indefinite strike starting from June 2, 2024, due to the government’s refusal to increase the proposed minimum wage above N60,000.
The strike follows failed negotiations between the government and organized labour, despite the government’s final offer of N60,000 and labour’s revised demand of N494,000.
