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Breaks down the potential consequences of Organized Labour's N494,000 minimum wage on citizens
There is the notion that the minimum wage conversation in the country is simply between the Federal Government and Organized Labour about a new minimum wage for the Federal Civil Service. That is not what we are talking about. We are talking about a new national minimum wage for every Nigerian citizen - both within the formal economy and the informal economy. This has serious ramifications.
Essentially, we are moving from the current minimum wage of (N30,000) to about N500,000 per month if Labour has its way. What impact will this have on the citizens of the country?
We are not talking about the impact as regards the government now. We are talking about our people.
We are talking about that mom-and-pop shop dealing in chin-chin and other pastries.
"What we all agree to is that the minimum wage today is unsustainably low. But (going by Labour's demand), Nigerian parents will now have to grapple with school fees that are 10 times more than what they are paying today. We also need to look at the price of food items and other commodities. This is the pragmatic assessment that needs to be made public so that everyone understands that it is not a matter of government wanting to maintain its revenue as much as possible; no, we are talking about an existential issue for the Nigerian economy and the people, and it should be treated as such."
"Aside from mass job losses across sectors at a time we are looking for job opportunities for the teeming youth population of our country, we are also talking about private schools. You are going to mandate schools to pay cooks, janitors, and others 20 times more in wages? What that would mean is that if those schools do not close down, there will be mass retrenchment."
The idea that you are going to mandate them to pay as much as 20 times whatever they are paying their staff within that small business is uncharitable; you know you are essentially mandating the closure of that business, and indirectly sacking an entire set of people who have families because that business will close down as they cannot live up to the minimum wage Organized Labour is asking for.
Presidential Spokesman Chief Ajuri Ngelale.
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