A Senior Energy Consultant and Public Affairs Analyst, Dr. Wisdom Enang has called on the Organised Labour to take a second look at its decision on 494,000 naira demand of minimum wage as it could lead to inflation and deteriorate health of many businesses in the country.
He made the call during the “Rise and Shine” program on Spectrum TV where he noted that taking due cognisance of productivity, macro-economic stability, economic sustainability of enterprises, labour market conditions, inflation, interest rates, exchange rate, and other macro-economic dynamics should be the concerns of workers.
Dr. Enang further urged the Organized labour to come up with an amount that all sectors in the country will be able to meet up, adding that any amount beyond what the Organised Private Sector offers could further escalate the already worsened health of many businesses, especially the Small Medium Enterprises, and drive others to face a situation that could potentially compound the bad unemployment rate and worsen the insecurity situation in the country.
Recall that the Organised Labour declared an indefinite nationwide strike which started on Monday, 3rd May due to the Federal Government’s refusal to increase the proposed minimum wage above N60, 000 naira and had called it off for a week giving room for further negotiation by both parties.