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Minimum Wage: Private sector committed to N57,000 – NECA

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Minimum Wage: Private sector committed to N57,000 - NECA

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.

Minimum Wage: Private sector committed to N57,000 – NECA

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African Group Backs Okonjo-Iweala for WTO Term

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African Group Backs Okonjo-Iweala for WTO Term

African Group Backs Okonjo-Iweala for WTO Term

By Halima Abdulkadiri

The African Group at the World Trade Organization (WTO) presented a proposal at its General Council (GC) to re-elect Ngozi Okonjo-Iweala as director-general of the organization.

Adebayo Thomas, the Director of Press and Public Relations at the Ministry of Industry, Trade and Investment, announced this in a statement in Abuja.

According to him, the proposal is for members to consider Okonjo-Iweala to run for another term as chief executive officer of the organization.

He said the proposal was also to enable the Chair of the General Council (GC) to commence the process of the appointment of the director-general as soon as possible.

He quoted Amb. Abdulhamid Adamu, Nigeria’s Permanent Representative to the WTO, at the GC, as saying that members debated the issue.

“All members highlighted Okonjo-Iweala’s efforts and contributions to the organization, which have led to significant progress and development,” Adamu said. “They all affirmed that she deserves to be reappointed as the director-general. Almost 58 members from all regions supported the proposal.”

He added that members resolved that the General Council Chair should start consultations on the appointment process as soon as possible.

In response, Okonjo-Iweala thanked all members and assured them she would respond soon after consulting with her family.

African Group Backs Okonjo-Iweala for WTO Term

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SGF Approves Eight New FRSC Deputy Corps Marshals

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SGF Approves Eight New FRSC Deputy Corps Marshals

SGF Approves Eight New FRSC Deputy Corps Marshals

By Halima Abdulkadiri

Sen. George Akume, Secretary to the Government of the Federation (SGF), has approved the promotion of eight Assistant Corps Marshals to Deputy Corps Marshals (DCMs) of the Federal Road Safety Corps (FRSC).

Olusegun Ogungbemide, Acting Corps Public Education Officer, announced this in Abuja on Monday.

Three of the new DCMs will proceed to immediate retirement, while the remaining five will fill vacancies in the South South, South East, South West, North Central, and North West geopolitical zones.

The promoted officers are DCM Clement Oladele (North Central), DCM Chidiebere Nkwonta (South East), DCM Sunday Iyamah (South South), DCM Musa Yerima (North West), and DCM Abiodun Akinlade (South West).

The retiring DCMs are Kingsley Agomoh, Jonas Agwu, and Zubairu Mato. SGF Akume praised the transparency of the promotion process and urged the new appointees to commit to the FRSC’s vision of reducing road traffic crashes and creating a safer motoring environment.

FRSC Corps Marshal Shehu Mohammed congratulated the promoted officers and emphasized the increased responsibilities their new ranks entail.

He encouraged them to stay focused and dedicated, and reassured all personnel of ongoing efforts to improve their welfare.

SGF Approves Eight New FRSC Deputy Corps Marshals

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N70,000 Wage Not Solution to Economic Issues

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N70,000 Wage Not Solution to Economic Issues

N70,000 Wage Not Solution to Economic Issues

By Halima Abdulkadiri

Chairman of the Labour Party (LP) in Oyo State, Sadiq Atayese, has stated that the newly-approved N70,000 minimum wage for Nigerian workers is not the solution to the country’s economic challenges.

Atayese made this assertion in an interview with the News Agency of Nigeria (NAN) on Sunday in Ibadan.

He emphasized that sustainable solutions to the cost of living require positive economic policies from the government. Atayese highlighted the exchange rate as a key factor influencing fuel costs and subsidies.

He stressed that the government must prioritize fighting corruption and implementing policies beyond just increasing the minimum wage. According to Atayese, corruption in high places accounts for over 90 percent of corruption cases in Nigeria.

“Will this new minimum wage actually assuage the daily rising costs of foods and services? Can it bring a stable solution to the nation’s economic challenges? The answer is No,” he said.

Atayese also urged the government to focus on agricultural development and address issues such as security and funding for effective farming. He believes that addressing these critical issues would have more significant benefits than even a minimum wage of N150,000.

“Labour Party will continue to stand for the wellbeing of the people and development of the society,” he said.

The Federal Government and labor unions recently agreed on N70,000 as the new minimum wage for Nigerian workers. Initially, the government proposed N60,000, which was raised to N62,000, while labor demanded N494,000 before revising it to N250,000. Labor leaders agreed to the N70,000 offer due to additional incentives attached.

N70,000 Wage Not Solution to Economic Issues

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