Minimum wage: N494,000 demand by organized labour will cripple economy

The Nigerian Government has said the N494,000 new minimum wage proposed by the organized labour is capable of crippling Nigeria's economy. The Minister of Information and National Orientation, Mohammed Idris disclosed this during a press briefing in Abuja while reacting to organized labour demand and indefinite strike action. The minister lamented that the N494,000 minimum wage demand would amount to a N9.5 trillion expenditure burden to the government.

reports that the organized labour is billed to embark on indefinite strike on Monday, June 3, over the government's failure to implement a new minimum wage and reversal of the April 3 electricity tariff hike. Recall that President Bola Ahmed Tinubu on January 1 signed the 2024 N28.7 trillion appropriation bill with projected revenue of N19.7 trillion and a budget deficit of N10 trillion.

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Minimum wage: Nigerian government declares position on labours’ N494,000 demandThe Minister of Information and National Orientation, Mohammed Idris, has said the sum of N494,000 national minimum wage being demanded by organised labour, which cumulatively amounts to the sum of N9.5 trillion, is capable of destabilising the economy and jeopardising the welfare of over 200 million Nigerians.
Source: DailyPostNGR - 🏆 11. / 59 Read more »