The Minister of Information and National Orientation, Mohammed Idris, stated that the N494,000 national minimum wage demanded by organised labour, which totals N9.5 trillion annually, could destabilise the economy and jeopardise the welfare of over 200 million Nigerians.
Idris made this statement at a news conference in Abuja, addressing the threat by organised labour to strike if their demands were not met. He explained that the Federal Government’s offer of a N60,000 minimum wage, which translates to a 100% increase on the existing minimum wage of 2019, has been accepted by the organised private sector, a member of the tripartite committee of the negotiations team.
He said, “The Federal Government’s new minimum wage proposal amounts to a 100% increase on the existing minimum wage of 2019. Labour, however, wants N494,000, which would be a 1,547% increase on the existing wage.”
“The sum of N494,000 national minimum wage which Labour is seeking would cumulatively amount to N9.5 trillion for the Federal Government of Nigeria.
“Nigerians need to understand that while the FG desires ample remuneration for Nigerian workers, President Bola Ahmed Tinubu will not encourage any action that could lead to massive job loss, especially in the private sector, which may not be able to pay the wage demanded by organised labour,” he added.
The minister stressed that although Labour is focused on the take-home pay of about 1.2 million workers, the Federal Government is concerned with the welfare of over 200 million Nigerians based on its guiding principles of affordability, sustainability, and the overall health of the nation’s economy.
Idris appealed to organised labour to return to the negotiating table and embrace reasonable and realistic wages for their members.
He noted that due to the commitment of the Tinubu administration to the welfare of workers, the wage award of N35,000 for federal workers would continue until a new national minimum wage is introduced.
