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Minimum Wage: Governor Soludo Warns Tinubu Against Unsustainable Increase

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NAIJA NEWS: Minimum Wage: Governor Soludo Warns Tinubu Against Unsustainable Increase [New Naija News] » Naijacrawl
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Governor Charles Soludo has issued a stern warning that implementing an unsustainable wage increase could lead to significant job losses and exacerbate economic challenges in Nigeria.




Speaking at The Platform Nigeria, an event organized by the Lagos-based Covenant Nation to commemorate Democracy Day 2024, Soludo emphasized that not all state governments and the Organised Private Sector can afford the proposed N62,000 by the Federal Government or the N250,000 demanded by the Organised Labour.


As the former Governor of the Central Bank of Nigeria (CBN) and Speaker from 2015 to 2019, Soludo highlighted the potential economic repercussions of such wage policies. He stressed that without careful consideration, an unsustainable wage increase could trigger job losses and lead to broader economic instability across the country.



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Piroll
 

Piroll is a creative writer, social-political commentator, socio-researcher, and sports analyst. He holds certificates in media management and data journalism from the Thomas Foundation Institute of Journalism. He works as a... Read More

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Naija News

Governors Reject N60,000 Minimum Wage Proposal

Piroll

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NAIJA NEWS: Governors Reject N60,000 Minimum Wage Proposal [New Naija News] » Naijacrawl
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The governors of Nigeria's 36 states have unanimously rejected the federal government's proposed N60,000 minimum wage. This announcement came from Hajiya Halimah Salihu Ahmed, the Director of Media and Public Affairs for the Nigeria Governors’ Forum (NGF), on Friday, June 7.The governors argue that the proposed wage increase is neither realistic nor sustainable. Implementing it, they claim, would compel some states to resort to borrowing just to meet payroll demands...
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Naija News

NLC and TUC Suspend Industrial Action Over Minimum Wage

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NAIJA NEWS: NLC and TUC Suspend Industrial Action Over Minimum Wage [New Naija News] » Naijacrawl
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The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have paused their industrial action for about one week. This strike, sparked by disagreements over a new minimum wage and an increase in electricity tariffs, brought significant disruptions across the nation.The TUC president, Festus Osifo, announced the suspension on Tuesday in Abuja following a joint extraordinary national executive council meeting of the unions. He mentioned that a communique wo...
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Naija News

Breaking: Labour pulls out of minimum wage negotiations

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NAIJA NEWS: Breaking: Labour pulls out of minimum wage negotiations [New Naija News] » Naijacrawl
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Organized Labor has withdrawn from the ongoing minimum wage negotiations with the Federal Government, citing dissatisfaction with the proposed wage offers.The Federal Government proposed N48,000, while the Organized Private Sector offered N54,000, both of which were deemed "ridiculous" by labor representatives.Unlike Organized Labor, the Federal Government did not provide supporting data for its proposal. Conversely, the Organized Private Sector stated that none of...
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