x

Moghalu Recommends ₦75,000 to ₦100,000 Minimum Wage Amid Labour’s ₦100,000 Proposal

Kingsley Moghalu, former deputy governor of the Central Bank of Nigeria (CBN), has endorsed the organized labour’s consideration of a ₦100,000 minimum wage for Nigerian workers. This follows the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) repeatedly proposing ₦615,500 and ₦494,000 respectively, citing inflation and economic hardship.

On June 3, organized labour declared a strike over the new minimum wage and increased electricity tariffs for Band A customers. However, the strike was suspended after a meeting with the Federal Government to allow for further negotiation.

In a post on his X handle, Moghalu acknowledged the need for a higher minimum wage but noted that Nigeria’s current productivity levels cannot support the ₦400,000 wage proposed by the NLC. He recommended a more realistic minimum wage range of ₦75,000 to ₦100,000.

Moghalu emphasized that improving productivity through human capital development and better electricity supply is essential. He stated, “In the debates on the national wage in Nigeria, we miss the fundamental point: there is little or no productivity in the economy. If we had a truly productive economy, there is no reason we can’t have the kind of minimum wage of 400 or 500K that Labour wants. But we can’t, because the level of productivity in the economy cannot support it.”

He also highlighted that the minimum wage issue extends beyond government salaries to include the private sector and household staff. Moghalu pointed out the need to avoid a minimum wage that could exacerbate inflation and questioned the productivity and skill level of the average Nigerian worker, which impacts the value they create.

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

I Will Support “Asiwaju” To Win ln 2027, Wike Fires Back At PDP

By Joyce Remi-Babayeju The FCT Minister, Barr Nysome Wike, has...

Amaechi is Hungry For Power, Not Influential Politician – Wike

By Joyce Remi-Babayeju The FCT Minister Barr Nysome Wike has...

2025 Ballon d’Or: 3 PSG Stars Emerge as Top Contenders Ahead of Lamine Yamal, Raphinha

Paris Saint-Germain’s historic UEFA Champions League triumph has positioned...

Daniel Etim-Effiong Shares How Rejection Led Him to Marry His Wife, Toyosi

Nollywood actor Daniel Etim-Effiong has revealed that he married...

UNODC: Boko Haram Recruited 1,385 Children Between 2017 and 2019

The United Nations Office on Drugs and Crime (UNODC)...

Eid-el-Kabir: FG Declares Friday, Monday Public Holidays

The Federal Government has declared Friday, June 6, and...

JUNE 12 NASS JOINT SESSION WITH MR. PRESIDENT: AN AGENDA

BY PATRICK WEMAMBU Nigeria's 10th National Assembly comprising the Senate...
spot_img

Related Articles

Popular Categories

spot_imgspot_img