Daud Olatunji
The Organised Private Sector (OPS) has expressed its inability to pay the newly agreed N70,000 minimum wage without substantial support from the government.
This call for assistance follows the recent agreement between President Bola Tinubu’s administration and the organized labour unions.
The Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) accepted the N70,000 minimum wage proposed by the federal government on Thursday.
The announcement was made by Minister of Information, Mohammed Idris, who conveyed President Tinubu’s offer following a meeting with labour leaders at the Presidential Villa in Abuja.
Despite the acceptance by labour unions, the OPS has raised concerns about its capacity to meet this new financial obligation.
Speaking on behalf of the OPS, Adewale-Smatt Oyerinde, the Director General of the Nigeria Employers’ Consultative Association (NECA), highlighted the financial strain this new wage could impose on private sector businesses.
“While we appreciate the President for resolving the immediate National Minimum Wage issue, we also acknowledge his crucial commitment to assist sub-national entities and the Organised Private Sector in meeting the new wage requirement,” Oyerinde stated.
He stressed that without government intervention, many businesses might struggle to implement the new wage policy.
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