The Federal Government has clarified its position on the proposed N494,000 national minimum wage requested by the organised Labour.
Minister of Information and National Orientation, Mohammed Idris, in a statement by his media aide, Rabiu Ibrahim explained that the proposed wage would place a significant burden on the national economy, potentially resulting in job losses and financial instability for the majority of Nigerians.
Idris estimated that the proposed wage would amount to a total of N9.5 trillion, which would be unsustainable for the federal government.
“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 potentially resulting in job losses and financial instability for the majority of Nigerians, especially in the private sector, who may not be able to pay the wage demanded by the Organised Labour.”
The Minister stated that although the Federal Government recognizes the importance of improving the take-home pay for the approximately 1.2 million workers, it is also essential to consider the overall well-being and financial stability of the 200 million Nigerians.
He added that affordable, sustainability, and the nation’s economic, health are key factors guiding the government’s approach.
Idris appealed to the organised labour to return to the negotiating table and embrace reasonable considerations and realistic wages for their members.
Meanwhile, the minister reinstated that because of the commitment of the Tinubu administration to the welfare of workers, the wage award of N35,000 for federal workers would continue until a new national minimum wage is introduced.