Labours’ N494,000 Minimum Wage Demand Will Lead To Massive Job Losses– FG

In response to the demand from organized labour for a national minimum wage of N494,000, which amounts to N9.5tn in total, Minister of Information and National Orientation, Mohammed Idris, has expressed concerns about the potential economic destabilization and jeopardy to the welfare of over 200 million Nigerians. 

Idris made these remarks in Abuja, highlighting the Federal Government's offer of N60,000 as the minimum wage, representing a 100 per cent increase from the 2019 minimum wage. 

He also noted the organized private sector's acceptance of this offer as a member of the negotiations team.

“The Federal Government’s New Minimum Wage proposal amounts to a 100 per cent increase on the existing minimum wage 2019. Labour, however, wanted N494,000, which would increase by 1,547 per cent on the existing wage.o embark on strike if their demands were not met.

“The sum of N494,000 national minimum wage which Labour is seeking would cumulatively amount to the sum N9.5tn bill to the Federal Government of Nigeria.

“Nigerians need to understand that whereas the FG is desirous of ample remuneration for Nigerian workers, what is most critical is that President Bola Ahmed Tinubu will not encourage any action that could lead to massive job loss, especially in the private sector, who may not be able to pay the wage demanded by the Organised Labour,” he said.

The Minister said even though Labour is keen 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 Principle of Affordability, Sustainability, and the overall health of the nation’s economy.

Idris appealed to the Organised Labour to return to the negotiating table and embrace reasonable and realistic wages for their members.

He said because of 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.