Politics
Business Community Responds To Tinubu’s Approval Of ₦70,000 Minimum Wage
Business Community Responds To Tinubu’s Approval Of ₦70,000 Minimum Wage....KINDLY READ THE FULL STORY HERE▶
Naija News reported that during a meeting at the Presidential Villa in Abuja, Tinubu announced a new minimum wage of ₦70,000, following discussions with leaders from the Trade Union Congress (TUC) and the Nigerian Labour Congress (NLC) on Thursday…… CONTINUE READING
According to a statement by Bayo Onanuga, Special Adviser to President Bola Tinubu on Information and Strategy, the new minimum wage will undergo review every three years.
After the meeting, NLC President Comrade Joe Ajaero confirmed that the unions had accepted the offer. He was joined by TUC President Comrade Festus Usifo and other worker representatives, who cited additional incentives as reasons for their acceptance.
In response to the development, Adewale-Smatt Oyerinde, Spokesperson of the Organised Private Sector (OPS) and Director General of the Nigeria Employers’ Consultative Association (NECA), expressed concerns in an interview with Vanguard. He emphasized the inability of private sector entities to sustain the ₦70,000 minimum wage without federal support.
President Tinubu, however, assured that the Federal Government would explore ways to assist states and private sector organizations in meeting the new wage requirements.
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