Organised Private Sector Reacts As Tinubu Approves ₦70,000 As New Minimum Wage

The Organised Private Sector, OPS, has cried out over the inability of its members to pay the N70,000 national minimum wage announced by President Bola Tinubu.

Naija News reported that Tinubu announced the new minimum wage during a meeting held with leaders of the Trade Union Congress, TUC and the Nigerian Labour Congress, NLC, on Thursday at the Presidential Villa in Abuja.

A statement by the Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, revealed that the new minimum wage will be reviewed every three years.

Speaking with journalists after the meeting, the President of NLC, Comrade Joe Ajaero, said the unions had accepted the offer.

Flanked by the President of the TUC, Comrade Festus Usifo, and other representatives of Nigerian workers, who attended the meeting, Ajaero said the unions agreed to the offer because of other incentives attached.

Reacting to the development, the Spokesperson of OPS and Director General of the Nigeria Employers’ Consultative Association, NECA, Adewale-Smatt Oyerinde, in an interview with Vanguard, said they cannot afford the N70,000 minimum wage without support from the Federal Government.

“While we commend the President for putting to rest the immediate issue of the National Minimum Wage, we also note, most importantly, his commitment to support the sub-nationals and the Organized Private Sector to pay the new wage.”

Meanwhile, President Tinubu has said the Federal Government will find ways to assist states and private sector organizations in paying the newly approved N70,000 national minimum wage.