Minister of Information and National Orientation, Mohammed Idris, has expressed concerns about the demands for a new national minimum wage of N494,000 by organized labor, stating that such an amount, which cumulatively amounts to N9.5 trillion, could destabilize the Nigerian economy and jeopardize the welfare of over 200 million citizens.
Idris made these remarks in Abuja in response to the threat of a strike by organized labor if their demands are not met.
He emphasized that the Federal Government’s offer of a N60,000 minimum wage represents a 100% increase over the existing minimum wage established in 2019. This proposal has been accepted by the organized private sector, which is part of the tripartite committee involved in the negotiations.
Idris explained that the labor union’s demand for N494,000 represents a 1,547% increase over the current minimum wage.
Implementing this demand would result in a cumulative financial burden of N9.5 trillion for the Federal Government.
The Minister stressed the importance of public understanding regarding the government’s stance.
While the government aims to ensure fair compensation for Nigerian workers, President Bola Ahmed Tinubu is committed to preventing actions that could lead to significant job losses, particularly in the private sector, which may struggle to meet the wage demands proposed by organized labor.
Idris highlighted that although the labor union is focused on the remuneration of approximately 1.2 million workers, the Federal Government’s priority is the welfare of over 200 million Nigerians.
This approach is guided by principles of affordability, sustainability, and the overall health of the national economy.
He called on organized labor to return to the negotiating table and consider reasonable and realistic wage proposals for their members.
Idris also mentioned that, in line with the Tinubu administration’s commitment to worker welfare, the wage award of N35,000 for federal workers would continue until a new national minimum wage is established.
