Africa-Press – Nigeria. <\/strong><\/span>The Director-General of the Nigeria Employers Consultative Association (NECA), Adewale Oyerinde, on Tuesday warned that any approval of a new national minimum wage that is above N62,000 stands to cause an industrial crisis with a high risk of job losses.<\/p>\nOyerinde issued the warning when he spoke to Journalists on the sidelines of the Third Nigeria Employers Summit on \u2018Economic Renaissance Harnessing Government Reforms and Private Sector Agility,\u2019 in Abuja.<\/p>\n
He stressed that an upward review by President Bola Tinubu may lead to non-compliance by employers which could lead to a series of industrial actions by aggrieved employees.<\/p>\n
The NECA averred that the private sector members swallowed a painful pill in accepting the proposed N62,000 by the tripartite committee and that it was based on a certain premise of concession by the government to suspend implementation of the electricity tariff, among others.<\/p>\n
He added that the government must consider the financial capability of its members to avoid a total shutdown of the sector.<\/p>\n
Oyerinde said: \u201cNow, for us, and we have said it and we\u2019ll say it again openly, the N62,000 that the employers came up to, the N62,000 was based on some premise. It was painful conceding that we did. And it was based on a certain premise. And one of those, or two of those, or three of those is the new electricity tariff, the government has to suspend it. That is one. That there should be an embargo on the new tax.<\/p>\n
\u201cAnd this speaks to the National Assembly as we speak. I hear the representative of the speaker saying he\u2019s going to declare open a public hearing on CSR (corporate social responsibility). It\u2019s not a part of the issues we had. The House wants to legislate on CSR to make it compulsory. It is corporate social responsibility, for God\u2019s sake.<\/p>\n
\u201cIt\u2019s the prerogative of the business to say this is what I want to do. So you don\u2019t legislate it. It\u2019s another tax which we are also going to contest.<\/p>\n
\u201cSo, those are part of the conditions that we gave for us to agree on the N62,000 minimum wage. Now, if it goes above N62,000, you have created two or three different dynamics. One, you have set the tone for non-compliance.<\/p>\n
\u201cThat is one. Because if I cannot pay, I just can\u2019t pay. Now, you have created a problem for the judiciary because all employees who are not satisfied have the right, according to the Act, to go to the National Industrial Court.<\/p>\n
\u201cNow, imagine 1,000, 2,000 employees or 5,000 employees across the country going to the National Industrial Court. How long will the Industrial Court take to dispense almost 5,000 cases? That is one.<\/p>\n
\u201cTwo, you have also set in the process another dangerous pattern. We already have businesses leaving now. All of us are not interrogated, where are our brothers and sisters working in those companies? Where are they? So, a figure beyond what the private sector can pay may also lead to a loss of jobs.<\/p>\n
\u201cNow, we complain about insecurity. So, we have to put all those together. And a fundamental, lastly for me, on this minimum wage issue, a fundamental element in setting up a national minimum wage that you cannot take away is the ability to pay.<\/p>\n
\u201cIf you take away the ability to pay, then you have just set a crisis stage.\u201d<\/p>\n
\u201cThere\u2019s no waiting game and I think we have to put all this in context. And all this misinformation, I think we are just creating unnecessary tension. There\u2019s a process and we don\u2019t seem to be on the same page. There\u2019s a process of the tripartite committee sitting to recommend the national minimum wage.<\/p>\n
\u201cAnd that process, once the minimum wage, the figures are recommended, we pass it to the president, which we have done. And the president is the sovereign. They have to pick the committee\u2019s recommendation, do I accept it or do I not take it?<\/p>\n
\u201cThe President remains the sovereign. That position is not contested. The employers cannot contest it. Labour cannot contest it. It is the sovereign that should pick a figure, and then pass it to the National Assembly to go through a legislative process. That process, we can only advocate for it to be fast-tracked.<\/p>\n
\u201cWe cannot put a gun in somebody\u2019s head and say, look, you have to do this, it\u2019s tomorrow, you have to do it. It doesn\u2019t work like that.<\/p>\n
\u201cWhile we commend these efforts and recognize their critical role in attracting investment, enhancing productivity, and driving sustainable economic growth, it is essential to note that the true measure of these reforms lies in their effective implementation and the tangible benefits they deliver to businesses and citizens alike<\/p>\n
\u201cThe private sector, with its inherent dynamism and innovation, stands as a cornerstone of economic development. Our agility allows us to swiftly respond to market changes, adopt new technologies, and create value.<\/p>\n
\u201cIt is this spirit of innovation and resilience that we must harness to complement government reforms. By promoting a symbiotic relationship between the public sector\u2019s regulatory framework and the private sector\u2019s dynamism and value creation, our country can achieve sustainable and inclusive economic growth.\u201d he added.Balanced, fearless journalism driven by data comes at huge financial costs.<\/p>\n
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.<\/p>\n
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.<\/p>\n
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.<\/p>\n
Source: Latest Nigeria News<\/b><\/p>\n
For More News And Analysis About Nigeria Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"By John Chukwu Africa-Press – Nigeria. The Director-General of the Nigeria Employers Consultative Association (NECA), Adewale Oyerinde, on Tuesday warned that any approval of a new national minimum wage that is above N62,000 stands to cause an industrial crisis with a high risk of job losses. Oyerinde issued the warning when he spoke to Journalists […]<\/p>\n","protected":false},"author":84,"featured_media":122301,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,1437],"tags":[13413,249,1261,254,220,13905],"class_list":["post-122303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-featured","tag-minimum-wage","tag-neca","tag-nigeria","tag-nlc","tag-oyerinde"],"yoast_head":"\n
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