Minimum wage: economy will collapse if Labor gets its way — Presidency 

THE Presidency has warned that if THE organized work has It is path on It is request For almost 500,000 naira as THE national minimum salary, he will to have serious consequences on THE the nation economy. 

Special Advise has THE President on media And advertisement, Ajuri Ngelale, WHO gave THE warning while answer has questions on TVC "Policy on Sunday night, Also said that President Bolas Tinubu commitment has improvement THE well-being of Nigerians East Never In doubt but East constrained by THE here economic realities. 

He said THE Rising be required by work will to have A negative impact on both THE official And THE informal sectors of THE economy. 

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According to has him, A 20 times increase In wages can cause massive job losses, business closures, And unsustainable price increase For goods And service.

Ngelale said: "I think THE departure indicate East has recognize that President Bolas Tinubu would be love has to have A minimum salary In This country. That East even north of N1 million by month For each Nigerian, he would be love has be able has TO DO that. He do And her administration do to have THE The highest regard For OUR people And he believes they TO DO deserve THE best. 

"But he Also recognize that there are economic realities And fundamentals In THE country RIGHT NOW that TO DO not support What THE organized Work movement East advocating For And I to want has be very clear This evening about What THE consequences would be be if organized Work had It is path. 

"RIGHT NOW there East This notion out there that THE minimum salary conversation In THE country East simply almost A conversation between A federal executive administration And organized Work about A new minimum salary For THE federal civil service. That East not What were talk about. Were talk about A new national minimum salary For each Nigerian citizen, both In THE official economy as GOOD as THE informal economy. 

"This has ramifications. Basically, were moving Since THE current minimum salary Or he East has, if Work obtained It is path, something north of 500,000 naira by month, You are look has almost 20 times, RIGHT? 

"SO THE impact that would be NOW to have on THE citizens of THE country, were not talk about government NOW, were talk about OUR people, East, I to want has be practical about This, if You are thought of THE Mom And popular shop that East transaction In cheers And bakery And these types of goods And services. 

"THE idea that You are going has mandate them has 20 times never mind he East they are paid their staff In that little business, You know that You are basically mandate THE closing of that business And You are literally, indirectly bag THE entire together of people WHO arrive has be functioning there because that business East closing because they can't live up has THE minimum wages that organized Work East ask for.

 "I will be even more practical about This, next to Since massive job loss through sectors, through OUR nation, has A time When We are look For new job opportunities For THE teeming youth population In THE country. 

"You are Also talk about private schools, For example, Or You are NOW going has be mandate For not just teachers, but janitors, cooks And THE as, A 20 times increase In THE wages they will to have has pay. 

"What that will NOW mean East that if those schools don't do it just close Or if they don't do it to have has go In A massive retrenchment exercise, What he will Also mean East For THE Nigerian citizen RIGHT NOW, WHO East Currently Fight With with What We all accept East A unbearably weak minimum salary as he East Today. 

"He Or She East NOW going has be Fight With with school costs that are ten times more What they currently are Today, not has talk of THE price of food items, not has talk of THE price of SO a lot other goods And basic products that OUR people, even if they are In A in trouble State, can kind of to try And allow, he NOW becomes totally unsustainable. 

"SO these are, I think, a few of THE real pragmatic evaluations that need has be do public SO that everyone understand that This East not just A matter of government not to want has bulge Or government to want has maintain as a lot of It is income as possible. No, were talk about A existential issue has THE Nigerian economy And he should be treaty as such. »

THE Presidential help exhorted Work has consider THE pragmatic consequences of their requests such as increase school costs And prices of food And goods.

On if THE president will change her position on THE salary increase, THE spokesperson said: "To leave Me say that We to have Never had A more pragmatic president WHO recognize THE very minute And acute challenges that OUR people confront. I mean, That...