The Federal Government has warned that demanding an unrealistic increase in the national minimum wage could lead to mass job losses and hurt the economy.
This warning came on Wednesday from the Minister of Information, Mohammed Idris, who spoke about the potential negative effects of the labour unions’ push for a N250,000 minimum wage.
Idris emphasized that such a high wage demand could lead to many workers losing their jobs and could harm the overall welfare of Nigerians.
He stressed the need for a balanced approach that meets workers’ needs without damaging the economy.
However, labour unions have denied claims by President Bola Tinubu that an agreement on the new minimum wage has been reached.
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Acting President of the Nigeria Labour Congress (NLC), Prince Adewale Adeyanju, clarified that as of June 7, no deal had been finalized by the committee responsible for setting the minimum wage.
The unions were angered by President Tinubu’s statement during his Democracy Day speech that his administration would soon send a bill to the National Assembly to formalize the wage agreements.
Beyond Boders recalls that the prolonged negotiations have seen the unions demand N250,000, while the Federal Government and private sector offered N62,000.
State governors indicated they could only afford a maximum of N60,000.
Chris Onyeka, Assistant General Secretary of the NLC, rejected the government’s offer of N62,000 and a separate proposal of N100,000 made by some individuals and economists.
The NLC President, Joe Ajaero, stated that the union is waiting for the President to review Labour’s proposal.
At a conference in Abuja, Minister Idris spoke about the need for a realistic wage system that avoids mass job losses.
He reiterated the government’s commitment to reassessing the minimum wage but warned against demands that could destabilize the economy.
“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 jeopardise the welfare of about 200 million Nigerians,” Idris said.
He further mentioned ongoing efforts to lower living costs, such as the Presidential Compressed Natural Gas (CNG) programme aimed at cutting transportation costs by 50%.
While he urged labour unions to consider these broader relief measures in addition to wage increases, he called on religious leaders to help raise awareness about government efforts to improve the economy and reduce living costs for Nigerians.
