Organised Labour proposed 250,000 Minimum wage will lead Nigeria into another recession – CNP
The Concerned Nigerian Patriots (CNP) has said organised labour’s recent demands for a N250,000 minimum wage posed a significant risk of plunging Nigeria into another recession, exacerbating the economic challenges that President Bola Tinubu’s administration has been diligently working to overcome.
According to the group, advocating a wage increase that is not financially viable has a risk of inciting chaos and anarchy, which could undermine Nigeria’s hard-earned democracy.
The CNP chairman, Alfa Mohammed, who stated this at a press conference in Abuja, alleged that the labour plan included a total shutdown of essential infrastructure under the guise of fighting for a living wage, potentially crippling the nation’s economy and disproportionately affecting the most vulnerable citizens.
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Mohammed said labour unions’ insistence on a minimum wage initially set at N605,000, then N494,000, and now N250,000, is part of a broader strategy to force the government into adopting an economically unfeasible policy.
He said such a wage hike would likely lead to severe inflation, increased unemployment, decreased productivity, and greater economic hardship.
