FG rejects N494,000 wage demand, warns of N9.5tn economic burden
1st June 2024
The Federal Government has declared the organised labour’s demand for a national minimum wage of N494,000 as economically unsustainable, warning it could destabilise the economy and negatively impact over 200 million Nigerians.
The Minister of Information and National Orientation, Mohammed Idris, stated this during a news conference in Abuja.
In a statement signed by his media aide Rabiu Ibrahim on Saturday, Idris emphasised that the proposed minimum wage would result in an annual expenditure of N9.5 trillion, a burden he described as untenable for the nation’s finances.
According to Idris, the government’s current offer is an N60,000 minimum wage, representing a 100 per cent increase from the 2019 rate, which has been accepted by the organised private sector involved in the wage negotiations
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