Economy
A former President, Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI), Mrs Oyinkan Olasanoye, has said the N200,000 minimum wage, proposed by the Trade Union Congress of Nigeria (TUC), is justifiable owing to the inadequacies of available amenities.
Mrs Olasanoye made this known on a Radio station programme on Wednesday, while reacting to the increase in fuel pump price with the resultant effect on economic activities in the country.
The TUC had, in a meeting held with Federal Government officials recently, proposed that the minimum wage should be increased from the current N30,000 to N200,000 before the end of June 2023, with consequential adjustment on cost of living allowance, like feeding, transport, housing, among others.
Olasanoye said: “When we look at it from the angle of needs, most workers spend more than the amount they earn.
“When we consider a house rent for a single room, that will cost N20,000; and for the family of four, you talk about a two-bedroom apartment with N200,000 rent in a year.
“This is coupled with the cost of transportation, health system, food and other things, you will see that the proposed minimum wage is not too much. “
The labour leader said provisions of basic amenities would augment hat the minimum wage workers were earning.
She, therefore, urged government to put in place the infrastructure and all the basic amenities in order to cushion the effects of the increase in the price of goods and services due to the fuel pump price increase.
“If the government can put these things in place the N200,000 may not be needed; but as my labour leaders have said, we believe so much in social dialogue and let the government do what will benefit the workers,” she said. (NAN)
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Tags: (ASSBIFI) (TUC) Mrs Oyinkan Olasanoye
