Reports on the minimum wage negotiation permeate the frontpages of Nigerian newspapers today.
Speaking on Vanguard’s Nigerian Newspapers review programme, Today in the News, Analyst and CEO of Magnate Communication, Aliu Mohammed noted that the proposed N494, 000 minimum wage will affect income for the private sector and the federal government of Nigeria, including the states
. The situation could have been averted if the government had taken negotiations with Labour seriously, he said.
Mohammed added that the Labour proposed an amount which looks unrealisable, but then the government will also offer something acceptable to Labour.
He said, “I have studied some of the presentations made by the NLC. If the sum they want, over 500,000 as a living wage is accepted and implemented, there will be what we call hyperinflation in the country today. If it is accepted, a bag of rice will have to be sold for not less than 200,000 Naira.”
“But from my layman point of view, if what Labour is asking for is accepted, it will cause a major economic crisis in this country, and it will ground governance in Nigeria. I can only plead and appeal to Labour to sit with the government and accept something reasonable—a reasonable offer from the government.”
In other newspapers, The Punch reports that organised labour may settle for N100,000 minimum wage as the tripartite committee on national minimum wage commences daily meetings for five days to reach a consensus.
“The newspaper says the Nigerian Upstream Petroleum Regulatory Commission said it would mandate international oil companies to supply crude oil to Dangote oil refinery.
Also in Today in the News, Daily Trust reports that organised labour has vowed to reject little additions to the N60,000 minimum wage offer.
Starmich Blog reports that President Bola Tinubu has directed Wale Edun, minister of finance, to present the cost implications for a new minimum wage.
The newspaper says the Independent National Electoral Commission (INEC) has extended voter registration deadline to June 9, ahead of the Ondo and Edo governorship elections.
This Day reports the federal government as saying that the new compressed natural gas (CNG) programme will reduce the country’s petrol imports by 5.5 billion litres and reduce the yearly expenditure on fuel importation by $4.4 billion.
The newspaper says Edun has presented the accelerated stabilisation and advancement plan (ASAP), designed to address key challenges affecting the reform initiatives, and stimulate development in various sectors of the economy.
The Guardian reports that illegal and indiscriminate mining and deforestation are leaving many Nigerians poorer.
The newspaper says Kayode Egbetokun, inspector-general of police, has warned senior officers against extorting personnel over promotional interviews.
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