Economy
A cross-section of Economists and political analysts have expressed disappointment over the newly approved N70,000 minimum wage for the Nigerian workers.
In separate interviews with the News Agency of Nigeria (NAN) on Friday in Abakaliki, they described the amount as poor considering the current economic situation in the country.
NAN reports that President Bola Tinubu on Thursday approved N70,000 as minimum wage for civil servants with a promise to review it every three years.
Mr Collins Anike, an Economist said that the decision would not meet the demands of workers and the public in general.
“I commend his promise to review the national minimum wage law every three years, but he should have considered what was already discussed to meet the needs of the people,” he said.
Mr Titus Ezeh, a political analyst, called on the government to review critical sectors of the economy to address inflation, energy tariff, review policies and put food security on check.
“There is a need to revisit the hike on energy tariff, petrol pump Price and inflation which is really troubling the masses,” Ezeh said.
Mrs Regina Agbo, a petty trader said that the impact of the electricity tariff hike was obstructing the ability of businesses and rippled through other sectors of the economy.
“The cost of production and rising prices of goods has caused difficulties in the system,”she said.
NAN reports that the organised labour had proposed N250, 000 minimum wage while the government team and the organised private sector proposed N62,000.(NAN)
19th July, 2024.
C.E.
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