The Nigeria Employers’ Consultative Association (NECA) says labour’s demand for a new minimum wage of N464,000 may lead to job losses and a crash of businesses.
Labour unions and the Nigerian government have been locked in negotiations for months over a new minimum wage. While the latter offered N60,000, the former insisted on N464,000, leading to the declaration of strike.
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But speaking on the Business Incorporated segment of Channels Television’s Sunrise Daily as labour embarked on a nationwide strike, the Director General of NECA Adewale-Smart Oyerinde called for caution, saying labour’s demand may lead to downsizing.
According to Oyerinde, many companies are struggling to stay afloat which makes labour’s demand a hard task.
Watch his interview below:
