Minimum Wage Talks: FG Govt Urges Caution, Labour Eyes Increase
Nigeria’s government is urging organized labour unions to prioritize a sustainable minimum wage increase that won’t trigger mass layoffs. This comes amidst negotiations for a potential rise in the current minimum wage.
Minister of Information, Mohammed Idris, addressed the Charismatic Bishops Conference, highlighting concerns about a proposed N250,000 minimum wage demanded by labour. He warned that such a significant increase could destabilize the economy and lead to widespread job losses.
Idris emphasized the government’s commitment to reviewing the minimum wage but stressed the need for a realistic and sustainable approach. He argued for a wage increase that balances worker wellbeing with economic stability, ensuring it doesn’t jeopardize the welfare of Nigeria’s nearly 200 million citizens.
The Minister underscored the importance of considering broader solutions beyond just wage hikes. He emphasized the government’s focus on reducing the cost of living and putting more money directly in people’s pockets. Initiatives like the “Presidential CNG initiative” were cited as an example. This program promotes the use of Compressed Natural Gas (CNG) as a fuel alternative, aiming to cut transportation costs by as much as half.
By advocating for a measured wage increase alongside cost-reduction initiatives, the government hopes to improve worker livelihoods without derailing economic progress. Negotiations with labour unions are likely to continue in the coming weeks, with both sides aiming to find a solution that addresses the needs of workers while safeguarding the national economy.
