The Minister of Information and National Orientation, Mohammed Idris, has expressed concerns that the ₦494,000 minimum wage demanded by organized labour could severely destabilize the Nigerian economy.
According to Idris, this amount would impose a cumulative annual burden of ₦9.5 trillion on the government, a situation that could jeopardize the welfare of the nation’s over 200 million residents.
In a detailed statement released by his Special Assistant on Media, Rabiu Ibrahim, the Minister highlighted that while the Federal Government had proposed a new minimum wage of ₦60,000, representing a 100% increase from the existing wage, labour’s demands would mark a 1,547% hike.
The organized private sector has already accepted the government’s offer.
“The Government’s proposal takes into consideration not only the welfare of approximately 1.2 million workers but also the broader economic implications on all Nigerians,” Idris explained.
He stressed that President Bola Ahmed Tinubu’s administration is focused on ensuring that policies do not lead to massive job losses, especially within the private sector, which might struggle with the heightened wage demands.
Idris also pointed out the critical need for affordability, sustainability, and maintaining the country’s overall economic health. He urged Organised Labour to reconsider their position and return to the negotiating table with more realistic wage demands.
Continuing, the Minister reassured that the government remains committed to the welfare of its workers. The current wage award of ₦35,000 for Federal workers will continue until an agreement on a new national minimum wage is reached.
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