Business
How realistic is the call for N56,000 new national minimum wage?
Though the happenings in the country in the last few months have shown that the N18, 000 is not enough for the Nigerian workers, and the call for upward review of the N18, 000 to N56, 000 is imperative, but how achievable is this new minimum wage? Cross section of stakeholders spoke with ANDREW OJIEZEL. Excerpt.
The President of Manufacturers Association of Nigeria (MAN), Dr. Frank Udemba Jacobs
said Labour has the right to agitate for any amount as minimum wage, especially in the light of escalating prices and rising cost of living.
“The disparity in income between the political class and the working class is very wide. Remember that the working class and the political class are paid by the same Government. Again, the spate of corrupt practices which are reported every day gives the impression that the country is very rich and can afford to pay N56, 000 minimum wage or even more.”
“However, considering that some States are owing workers and pensioners many months in salary arrears, it would suggest that many States may not be able to pay this minimum wage. Government is not the only employer in the country.
The private sector, though not affected initially, would be involved if the agitation succeeds. The ability of the private sector to pay, in the face of the present economic reality is doubtful. Companies are closing down because of forex and other numerous challenges. Therefore, talking about wage increase cannot be in the agenda for now, Dr Jacobs stressed.
Former LCCI President, Bello
In the same vein, the immediate past President of Lagos Chamber of Commerce and Industry, Alhaji Remi Bello stated that the demand by labour is asking price.
“That is what is called asking price. The amount is not realistic; it is simply a figure to negotiate with government. The economy is seriously depressed; the new wage is not sustainable.”
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Similarly, the Director General, Nigeria Employers Consultative Association (NECA), Mr Olusegun Osinowo, noted that the demand by labour is justifiable following the current state of the economy.
According to him, labour can partake in the negotiation of salary of their members.
However, the Director General of NACCIMA, Mr. Emmanuel Cobham, said he could not speak on the topic because “we are not to comment on national issues.”
It would be recalled that organized labour, NLC and TUC reminded FG of the need to review upward, citing the harsh economy environment as reason for the demand.
Meanwhile the NLC President in Lagos, Comrade Joe Ajaero is pegging his demand of N90, 000 demands, noted that despite the current state of the economy, there is need for upward review as it is long overdue.
