NECA to FG: Stabilise economy before new minimum wage

NECA to FG: Stabilise economy before new minimum wage

The Nigeria Employers’ Consultative Association has urged the Federal Government to stabilise the economy before announcing a new minimum wage for workers.
NECA’s Director-General, Wale-Smatt Oyerinde, said this in a statement issued on Sunday.

The leaderships of the Nigeria Labour Congress and the Trade Union Congress will be meeting with the FG team this week to fine-tune measures expected to cushions effects of fuel subsidy removal on the people.

One of the measures both parties have agreed upon is the issue of a new minimum wage for public sector workers.
NECA specifically asked the FG to refocus the fiscal and monetary policies and make them pro-growth.

It also advised the government to address the challenge of multiple taxes and levies.

The statement read in part, “While it is important to note that socio-economic conditions over the years have rendered the N30,000 minimum wage inadequate, and the inability or refusal of some state governments to pay has further impoverished workers and households, we state most responsibly that as government puts in place the machinery for the NMW negotiation, concurrent and urgent efforts should be made to stabilise the economy by refocusing the fiscal and monetary policies to be pro-growth.
‘’Efforts should also be made to address the challenge of multiplicity of taxes and levies; deal with strangulating regulations that appear to stifle productive activities rather than promote them; address the increasing inflation rate.”