Anambra State Governor, Chukwuma Soludo, has expressed concern over the potential approval of an “unsustainable” minimum wage by President Bola Tinubu.
Soludo, the former Governor of the Central Bank of Nigeria (CBN), cautioned that not all state governments and the Organised Private Sector could afford the proposed ₦62,000 minimum wage by the Federal Government or the ₦250,000 demand from Organised Labour.
Speaking at The Platform Nigeria, a program by Lagos-based church, Covenant Nation, to mark the 2024 Democracy Day, Soludo warned that an unsustainable wage could lead to job losses and exacerbate economic challenges in the country, as reported by Channels TV.
Tinubu, in his Democracy Day address, assured Labour that an executive bill on the new national minimum wage would soon be sent to the National Assembly for passage.
However, Soludo argued that even with the best estimates, the Federal Government’s revenue wouldn’t exceed N17 trillion this year.
“If you share it to all Nigerians, it comes to N6,160 per person, per month, per capita,” he saod
As the debate continues unabated, Tinubu’s government is faced with the feasibility and implications of various wage proposals continue to surface.
