According to Vanguard, As Nigeria waits for President Bola Tinubu’s new minimum wage proposal, many states might need financial help or layoff workers to meet the suggested N62,000 minimum wage. “Despite the increased state allocations following the fuel subsidy removal in May 2023, the additional funds are still insufficient,” said insiders. The Organised Private Sector (OPS) added, “Our recent talks resulted in aligned interests, not a formal agreement.”
Governor Nasir Idris of Kebbi State stated, “I pledge to pay the proposed wage and distance myself from other governors who claim they cannot afford it.” Meanwhile, Senator Ahmed Wadada from Nasarawa West urged, “Considering our economic challenges, the minimum wage should be at least N150,000.”
Governors are citing financial difficulties as the main reason for their hesitation. “We were limited in our role in the wage negotiations,” one governor noted. “Even with a 5% increase in state allocations after the subsidy removal, many states still find the increment inadequate, with some even seeing a decrease.”
The OPS proposed that the new minimum wage should only apply to employers with 200 or more employees. “This adjustment is to protect small and medium enterprises (SMEs),” said the Nigeria Employers’ Consultative Association (NECA). “We need realistic wage mandates to avoid economic issues like inflation and job cuts. Unrealistic wage demands could weaken the labor market,” NECA warned..…….See More
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