The Federal Government has issued a warning to organized labor not to negotiate a new minimum wage that would put the wellbeing of around 200 million Nigerians at risk or result in widespread layoffs.
The economy could be harmed by the N250,000 minimum salary that labor demands, according to Mohammed Idris, Minister of Information and National Orientation, who made this observation on Wednesday at the start of the 2024 Synod of the Charismatic Bishops Conference of Nigeria in Abuja.
The Information Minister emphasized the necessity for a fair wage structure that takes into account workers’ requirements and protects against widespread layoffs.
Idris reaffirmed the government’s commitment to reviewing the minimum wage but issued a warning against making demands that would cause the economy to falter.
He stated: “As I have repeatedly said, the Federal Government is not opposed to the increase of wages for Nigerian workers but we keep on advocating for a realistic and sustainable wage system for the workers – a wage system that will not undermine the economy, lead to mass retrenchment of workers and jeopardize the welfare of about 200 million Nigerians.
“We want the labour unions to understand that the relief that Nigerians are expecting, and that they fully deserve, will not come only in the form of an increase in wages.
“It will also come as an effort to reduce the cost of living and to ensure that more money stays in the pockets of Nigerians.
“And this is where programs like the Presidential CNG initiative come in.
That program alone, by replacing or complementing petrol usage with CNG, will cut transportation costs by as much as 50 per cent.”
