Raising minimum wage above N62,000 will create job losses, NECA warns | #NwokeukwuMascot

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The NECA boss stressed that setting a national minimum wage that reduces people’s ability to pay will set the stage for litigation and crisis | #NwokeukwuMascot

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The Nigeria Employers Consultative Association (NECA) says any amount above N62,000 approved as a minimum wage will create job losses.


Adewale-Smatt Oyerinde, NECA’s director-general, said this while speaking with journalists on Tuesday in Abuja.


He spoke on the sidelines of the third edition of the Nigeria Employers Summit with the theme, “Economic Renaissance: Harnessing Government Reforms and Private Sector Agility,”


Mr Oyerinde said the organised private sector cannot afford to pay more than N62,000, as agreed during the tripartite committee negotiation meetings.


According to the NECA boss, any figure above N62,000 will create two different dynamics – setting the tone for non-compliance and attendant litigations.


He stressed that setting a national minimum wage that reduces people’s ability to pay will set the stage for litigation and crisis.


On the allegation of delay in the process, Mr Oyerinde said there was no delay as the process was ongoing.

“There is no waiting game, and I think we must put all this into context. It is misinformation,” he said.


He said a bill is expected to be sent to the National Assembly for legislation after the tripartite committee’s recommendations to the president.


He said the labour can advocate for a fast-track of the process.


(NAN)

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