The Nigeria Governors Forum (NGF) has taken a stand against the proposed N60,000 minimum wage for Nigerian workers, citing concerns over its sustainability and potential negative impact on state finances. In a statement issued by the NGF’s Director of Media and Public Affairs, Halimah Ahmed, on Friday, the governors expressed their reservations about the feasibility of the proposed wage increase.
While acknowledging the need for an upward review of the minimum wage and expressing solidarity with labor unions advocating for better pay, the NGF emphasized the importance of a realistic and sustainable wage structure. The governors warned that implementing a N60,000 minimum wage could lead many states to allocate their entire Federal Account Allocation Committee (FAAC) funds to salaries, leaving limited resources for critical development projects.
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“The Nigeria Governors’ Forum agrees that a new minimum wage is necessary… However, all parties must consider the wider implications,” the statement read.
The NGF urged stakeholders, particularly labor unions, to consider socioeconomic factors in the negotiation process and work towards a fair and durable agreement that benefits all segments of society.
Meanwhile, organized labor, including the Trade Union Congress (TUC) and the Nigeria Labour Congress (NLC), had earlier suspended their industrial action after reaching an agreement with the Federal Government for a wage higher than the proposed N60,000.
Following a presentation by the Minister of Finance outlining the cost implications, the governors acknowledged the inevitability of a wage increase but stressed the importance of striking a balance between workers’ welfare and the financial sustainability of states.
The NGF’s stance underscores the complexity of wage negotiations and the need for careful consideration of the broader economic implications, ensuring a fair deal for both workers and the states.
