The Federal Government said the Four Hundred and Ninety Four Thousand Naira new minimum wage proposed by the organized labour could cripple Nigeria’s economy.
The Minister of Information and National Orientation, Mohammed Idris disclosed this during a press briefing in Abuja.
The minister lamented that the Four Hundred and Ninety-four Thousand Naira minimum wage demand would amount to a Nine point Five Trillion Naira expenditure burden to the government.
According to him, they had agreed to increase the country’s minimum wage by One hundred percent to Sixty Thousand Naira from Thirty Thousand Naira in line with the current economic realities.
He expressed dissatisfaction at the over One thousand Five Hundred percent new minimum wage proposal by the organized labour.
Idris noted labour’s demand will make the federal government downside its One point Two Million workforce which he said, does not portend any good for the country’s economy.
