FG commends industrialist Egwuonwu for compliance with National minimum wage

The Federal Government has recognized Chief Akai Egwuonwu, an industrialist based in Anambra State, for his commitment to implementing the new national minimum wage for his employees.

Egwuonwu, who is the Managing Director of Stine Rice Mill and Zara Departmental Stores, received the commendation during a presentation by Mrs. Benedene Oji-Ogbuehi, the State Controller of the Federal Ministry of Labour, at his office in Awka on Thursday.

Oji-Ogbuehi expressed appreciation for Egwuonwu’s efforts to enhance the welfare of his workers, highlighting his role in setting a positive example for other private sector employers in Anambra State.

“The Federal Ministry of Labour and Employment in Anambra commends you for being the first in the private sector to implement the new National Minimum Wage for your workers, despite the challenging economic climate,” Oji-Ogbuehi said. She further emphasized that Egwuonwu’s actions reflect a strong sense of responsibility toward the well-being of his employees.

The recognition comes as part of the government’s ongoing efforts to encourage private sector compliance with the new wage policy, aiming to improve the living standards of Nigerian workers.

In his response, Egwuonwu stressed the growing need to increase wages due to the rising cost of living and declining purchasing power in the country.

While he implemented the N70,000 minimum wage, he noted that it was insufficient to meet the basic needs of workers in today’s economy.

“The N70,000 is a far cry from what is needed to meet the basic needs of the average worker in the current economy.

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A plate of food costs around N1,500, and a bag of rice is N92,000. For workers to live comfortably, the minimum wage should be N150,000 per month,” Egwuonwu said.

Egwuonwu also called on the government to create a more conducive environment for businesses to thrive, stressing the need for cheaper energy, improved infrastructure, and lower fuel prices to ease operational costs.

He expressed hope that these measures would allow businesses to provide better compensation to their employees.

“I am paying this wage out of necessity.

Doing business in Nigeria today is tough, and we need an enabling environment to survive.

We need affordable energy, better roads, cheaper transportation, and tax holidays to help businesses thrive,” Egwuonwu added.

The new wage policy will benefit no fewer than 2,000 workers across Egwuonwu’s various companies, underscoring his commitment to the welfare of his employees.