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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

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Organized Labor has withdrawn from the ongoing minimum wage negotiations with the Federal Government, citing dissatisfaction with the proposed wage offers.The Federal Government proposed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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Naija News

Edo Govt Increased Minimum Wage

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NAIJA NEWS: Edo Govt Increased Minimum Wage [New Naija News] » Naijacrawl
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Naija News

NYSC members to receive the new minimum wage.

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NEWS: NYSC members to receive the new minimum wage. [New Naija News] » Naijacrawl
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Following the implementation and signing into law of the new minimum wage for civil servants in Nigeria, it has also been announced the members of the Nigerian youth service corps will also benefit from it.Remember the minimum wage was increased from 18 thousand naira to 30 thousand naira after series of dialogue from the Nigerian labour Congress and the federal government, of which was later resolved and signed into law earlier this year. But there has been doubts...
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