THE WHISTLER
Some finance and economic experts have expressed worries that the N200,000 minimum wage demand for workers across the country could result in massive layoffs of civil servants.
The experts who spoke with THE WHISTLER were of the opinion that the need to increase the current N30,000 minimum wage is long overdue.
The Trade Union Congress (TUC) demanded a review of the minimum wage from the current N30,000 to N200,000 to cushion the shock of the removal of fuel subsidy and the impending naira devaluation.
The National Minimum Wage Act 1981 exempts an establishment in which less than 50 workers are employed; an establishment in which workers are employed on a part-time basis (those working for less than 40 hours per week) from the national minimum wage.
In an interview with THE WHISTLER, the Chief Executive Officer, of the Centre for the Promotion of Private Enterprise, (CPPE) Muda Yusuf, said TUC’s N200,000 minimum wage demand is not realistic considering government revenues.
Yusuf who was the immediate past Director General of the Lagos Chamber of Commerce and Industry (LCCI), admitted that the risk associated with a huge minimum wage increase will lead to unemployment and an unbearable standard of living amongst others…
