‘We Are Okay With ₦60,000’ – Organized Private Sector Gives Condition To Pay ₦100,000 New Minimum Wage

The Organized Private Sector (OPS), has declared that it is okay with the payment of ₦60,000 as the new minimum wage for Nigerian workers.

A member of the OPS argued that paying more than ₦100,000 as wages to workers would collapse small and medium-scale businesses.

A member of the National Association of Small and Medium Enterprises (NASME), stated this in an interview with Daily Trust amidst the ongoing negotiations on a new minimum wage by members of the National Minimum Wage Tripartite Committee.

The OPS member stated that members could easily afford the ₦60,000, but if the amount eventually agreed upon is over ₦100,000, they would have to make some demands from the government.

According to him, they would not disagree with the government if it decides to raise the minimum wage above ₦100,000 but would demand tax holidays or exemption from paying the agreed amount.

“Obviously, paying more than N100,000 as wages to our workers would collapse small and medium scale businesses. We are okay with N60,000, but we won’t disagree with the government, the labour and other employers from the OPS,” he said.

Naija News recalls that on Thursday, the presidency shut down reports that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, presented ₦105,000 as the proposed new minimum wage to President Bola Tinubu.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, who described the report as false, wrote on his X account, “The Honourable Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has not proposed N105,000 minimum wage. The contrary story being disseminated is false.”