The Federal Government has urged the Labour Union to adopt a realistic approach to their demands for a new minimum wage for workers, News About Nigeria reports.
The Minister of Information and National Orientation, Mohammed Idris, said that the anticipated relief for Nigerians would come from a combination of wage increases and other government initiatives.
He made this plea at the opening of the 2024 Synod of the Charismatic Bishops Conference of Nigeria held in Abuja.
Idris stated that the government is committed to reviewing the minimum wage but insists on a system that is sustainable and does not harm the economy or lead to mass layoffs.
“We advocate for a realistic and sustainable wage system that will not undermine the economy, lead to mass retrenchment of workers, and jeopardise the welfare of about 200 million Nigerians,” he said.
He mentioned that the relief Nigerians expect will not solely come from wage increases.
“Efforts to reduce the cost of living and ensure more money stays in the pockets of Nigerians are equally important. Programmes like the Presidential CNG Initiative, which aims to cut transportation costs by up to 50% by replacing or complementing petrol usage with CNG, are part of this strategy,” Idris explained.
The Minister also spoke on President Tinubu’s Renewed Hope Agenda, which focuses on economic rebirth, national security, agriculture and food security, energy and natural resources, infrastructure and transportation, education, health, social investment, and youth-driven industrialization, digitization, and innovation.
Idris noted the progress made in these areas over the past year, particularly in stabilising the economy through the withdrawal of fuel subsidies and the unification of the foreign exchange market.
“These reforms are necessary to redirect funds to critical sectors like healthcare, education, and infrastructure. While they have caused short-term pain, they are essential for long-term economic growth and development,” he said.
Idris acknowledged the hardship these reforms have caused but stressed their necessity for building a stronger economic foundation.
“As a nation, we are enduring short-term sacrifices for long-term benefits. President Tinubu is committed to rolling out as many relief and palliative measures as possible for the benefit of every segment of the Nigerian population,” he added.
