Nigerian Governors' Forum declares N60,000 minimum wage unsustainable, sparking reactions from labor unions, and economic experts. Decision could impact millions of workers, and consumer spending.
In a significant development, the Nigerian Governors' Forum (NGF) has declared that the N60,000 national minimum wage for workers is not sustainable for the states to maintain. This statement comes as a potential setback for millions of Nigerian workers who had anticipated an increase in their wages.
In a press release issued on Friday by Halimah Salihu Ahmed, the director of media and public affairs for the NGF, the governors unequivocally stated that the proposed minimum wage of N60,000 "cannot fly." The NGF represents the collective interests of the 36 state governors across Nigeria.
While the governors did not provide specific reasons for their stance, the statement suggests a growing concern among state governments about their ability to sustain the increased financial burden that the N60,000 minimum wage would entail. This wage level was established in the aftermath of prolonged negotiations between the federal government and labor unions, to improve the standard of living for Nigerian workers.
The governors' declaration has sparked reactions from various stakeholders, with labor unions and workers' rights advocates expressing disappointment and vowing to challenge the decision. Economic experts have also weighed in, highlighting the potential impact on consumer spending and the overall economy if the minimum wage is not increased.
The federal government has yet to officially respond to the governors' statement, but it is expected to address the matter in the coming days. The decision on whether to revise or maintain the N60,000 minimum wage will have far-reaching consequences for millions of Nigerian workers and their families.
