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The Minister of Information and National Orientation, Mohammed Idris, has expressed concerns that the ₦494,000 national minimum wage demanded by organised labour, which totals ₦9.5 trillion, could destabilise the economy and negatively impact over 200 million Nigerians.
Idris made these remarks during a press conference in Abuja, in a firm response to organised labour’s threat to go on strike if their demands for a higher minimum wage were not met.
He clarified that the Federal Government’s proposal of a ₦60,000 minimum wage, a significant 100% increase from the 2019 minimum wage, has been accepted by the organised private sector, a key player in the tripartite committee involved in the negotiations.
“The Federal Government’s New Minimum Wage proposal amounts to a 100% increase on the existing minimum wage 2019. Labour, however, wanted ₦494,000, which would increase by 1,547% on the existing wage.
“The sum of N494,000 national minimum wage which labour is seeking would cumulatively amount to the sum N9.5 trillion 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 emphasised that while Labour is focused on the take-home pay of approximately 1.2 million workers, the Federal Government prioritises the welfare of over 200 million Nigerians, guided by principles of affordability, sustainability, and the overall health of the nation’s economy.
Idris urged the Organised Labour to return to negotiations and accept reasonable and realistic wages for their members.
He stated that, due to the Tinubu administration’s commitment to workers’ welfare, the 35,000 wage award for Federal workers would remain in effect until a new national minimum wage is established.