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The Presidency on Sunday reiterated that the demand for a minimum wage of N250,000 by Organised Labour is not feasible, cautioning that the Federal Government cannot allocate all its resources to meet such a request.
This warning comes after the Association of Local Governments of Nigeria expressed worries about the proposed N62,000 wage by the Federal Government.
ALGON stated that if approved, the wage could place a heavy financial burden on the councils.
In an interview with NAN on Sunday, the chairman of the committee, Bukar Aji, urged the labour unions to reconsider their stance in the light of economic factors and the non-monetary benefits provided by the government.
Aji emphasized various incentives offered by the government, such as the N35,000 wage increase for all federal workers paid from the treasury, N100bn allocated for gas-fueled buses and gas kit conversions, a N125bn conditional grant, financial support for small and medium enterprises, and a N25,000 monthly allowance for 15 million households over three months.
He also mentioned the N185bn in palliative loans to states to offset the impact of petrol subsidy removal, N200bn to enhance agricultural production, N75bn to bolster the manufacturing sector, and N1tn for student loans, among other measures.
Aji appealed to the labour unions to consider accepting the N62,000 minimum wage proposed by the Federal Government.
He expressed the committee's efforts to prevent a scenario where the minimum wage results in more job losses, particularly as many businesses are already facing challenges.
