Minimum Wage: Beware of mass sack – FG tells Labour

The Federal Government has warned the organized labour against negotiating a new minimum wage that would lead to mass retrenchment of workers or endanger the welfare of about 200 million Nigerians.

Speaking at the opening of the 2024 Synod of the Charismatic Bishops Conference of Nigeria in Abuja on Wednesday, the Minister of Information and National Orientation, Mohammed Idris, noted that the N250,000 minimum wage demanded by labour could undermine the economy.

The Information Minister stressed the imperative of a realistic wage system that safeguards against mass retrenchment while addressing workers’ needs.

Idris restated the government’s dedication to reassessing the minimum wage but cautioned against demands that could disrupt the economy.

He stated: “As I have repeatedly said, the Federal Government is not opposed to the increase of wages for Nigerian workers but we keep on advocating for a realistic and sustainable wage system for the workers – a wage system that will not undermine the economy, lead to mass retrenchment of workers and jeopardize the welfare of about 200 million Nigerians.

“We want the labour unions to understand that the relief that Nigerians are expecting, and that they fully deserve, will not come only in the form of an increase in wages.

“It will also come as an effort to reduce the cost of living and to ensure that more money stays in the pockets of Nigerians.

“And this is where programs like the Presidential CNG initiative come in.

That program alone, by replacing or complementing petrol usage with CNG, will cut transportation costs by as much as 50 per cent.”