As the Organised Labour is set to embark on its Nationwide Strike from Monday June 3rd, 2024, over the government’s failure to implement a new minimum wage and reversal of the April 3 electricity tariff hike, but the President Bola Ahmed Tinubu led Federal Government has disclosed that the N494,000 Minimum Wage demand of Labour Will cripple the nation’s economy, and further plunged the nation into crisis.
Mohammed Idris, Minister of Information and National Orientation, made this disclosure in Abuja, the nation’s Capital, stressing that the N494,000 minimum wage demand would amount to a N9.5 trillion expenditure burden to the government.
Idris said that the Federal Government had been considerate enough by increasing the Minimum Wage by 100 Percent from N30,000 to N60,000.

He expressed dissatisfaction at the 1,547 percent new minimum wage proposal by the organized labour.

Idris noted labour’s N494,000 minimum wage demand will make the federal government downside its 1.2 million workforce which does not portend any good for the country’s economy.

He said, “The sum of N494,000 national minimum wage which Labour is seeking would cumulatively amount to the sum N9.5 trillion bill to the Federal Government of Nigeria.

“Nigerians need to understand that whereas the FG is desirous of ample remuneration for Nigerian workers, what is most critical is that President Bola Ahmed Tinubu will not encourage any action that could lead to massive job loss, especially in the private sector, who may not be able to pay the wage demanded by the Organised Labour,” he added.