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Minimum Wage: Private sector committed to N57,000 – NECA
The Nigeria Employers’ Consultative Association (NECA), says the private sector remains committed to the N57,000 earlier proposed at the Tripartite Committee meeting on National Minimum Wage.
NECA’s Director-General, Mr Adewale-Smatt Oyerinde, in a statement on Sunday, said the amount represented 90 per cent increase in the national minimum wage.
Oyerinde said that this was notwithstanding ongoing challenges, made worst by rising interest rates, astronomical logistics cost, increasing energy tariff and multiple taxes, levies and fees.
“With organised businesses declaring over one trillion naira in combined losses and many shutting down their businesses for different reasons, while others are relocating to other climes, the ability to pay the prevailing N30,000 was already compromised.
“It will be practically impossible to guarantee enterprise sustainability and job security with the current demands of organised labour,’’ he said.
The director-general, however, said that NECA would continue to support the welfare of workers and the protection of their jobs, which could only be guaranteed by the survival of the enterprise.
Following negotiations on the national minimum wage, he urged the tripartite committee to prioritise job creation and job security.
Oyerinde said that the call was in view of the worrisome and increasing rate of unemployment in the country.
According to him, the committee should refocus its effort on protecting jobs, boost the capacity of the private sector to create more jobs and ensure sustainability and ability to pay.
He said that productivity should be a key driver of higher wages.
“According to the National Bureau of Statistics, the combined rate of unemployment and time-related underemployment as a share of the labour force population (LU2) increased to 17.3 per cent in Q3 2023 from 15.5 per cent in Q2 2023.
“In specific terms, the unemployment rate increased significantly in Q3 2023 at 5.0 per cent.
“With these figures, more efforts should be concentrated on keeping more people in employment, while government continues to implement its planned interventions in transportation, food security and general macro-economic stability,” Oyerinde said. (NAN)
Another explosion occurred at a pipeline manifold in the Omwawriwa area of Ogba-Egbema-Ndoni Local Government Area of Rivers State on Tuesday.
This incident follows a similar explosion that shook the Trans Niger Pipeline, operated by Shell, in Bodo, Gokana Local Government Area just hours earlier.
The latest explosion reportedly took place at a manifold connected to a federal pipeline deep within the forest, which transports crude oil to Brass in Bayelsa State.
While the explosion has not yet been officially confirmed, community sources reported seeing massive flames and thick smoke rising from the oil installation in the forest.
Grace Iringe-Koko, the spokesperson for the Rivers State Police Command, stated that she would investigate the incident but had not provided a response at the time of this report.
A video obtained by our correspondent displays a large fire burning in a remote location.
In a separate development, Ijaw youths blocked the Ahoada section of the East-West Road leading to Bayelsa State on Tuesday in protest.
The demonstrators, numbering over 100, carried placards in solidarity with Rivers State Governor Siminalayi Fubara amid his political dispute with the state House of Assembly. Some of the placards read: “We demand Wike’s dismissal as FCT Minister” and “Martin Amaewhule and 26 lawmakers have defected and lost their seats.
The House of Representatives on Tuesday passed the four tax reform bills transmitted to the National Assembly in October 2024 by President Bola Tinubu.
Recall that the House had on Thursday last week, considered and approved the report of the House Committee on Finance which made some recommendations, particularly in controversial areas such as the Value Added Tax and inheritance tax.
While awaiting the Senate to similarly pass the bills, the proposed reforms are expected to be transmitted to the President for his assent in the days ahead.
Details shortly…
Two members of the house of representatives have defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC).
Tajudeen Abbas, speaker of the house, announced the defections in a letter read on the floor of the lower legislative chamber on Tuesday.
More to follow…