The Organised Non-public Sector of Nigeria (OPSN) has expressed concern over its capability to pay the N70,000 newly permitted minimal wage, saying personal organisations are over-burdened by excessive price of production.
The Director-Normal, Nigeria Employers’ Consultative Affiliation (NECA), Mr. Adewale-Smatt Oyerinde, who spoke on behalf on the physique, nevertheless, counseled the federal authorities over the approval of the brand new minimal wage, urging it to place in place reforms that may strengthen personal sector to have the ability to pay.
“Whereas we commend the president for placing to relaxation the fast situation of the Nationwide Minimal Wage, we additionally observe, most significantly his dedication to assist the sub-nationals and the organised personal sector to pay the brand new wage,” he mentioned.
The NECA DG famous that through the consultations with the Nationwide Minimal Wage Committee, the OPS expressed concern about its capability to pay the N62,000 advisable by the tripartite committee.
“The truth is, the N62,000 was premised on the understanding and Treaty by the federal government representatives that the federal government will take particular steps to cut back the present {economic} burden on the organized personal sector,” he mentioned.
He pleaded with the federal authorities to reverse the rise in electrical energy tariffs, guarantee CBN redemption of all excellent forwards for corporations within the productive sector, put a freeze on introduction of recent taxes and levies on companies for the subsequent 5 years, and supply an obligation exemption on imported conversion kits and authorities subsidy on procurement of identical.
“It needs to be famous that the flexibility to pay stays a basic consideration. The proposed assist by the president to organised companies needs to be instantly introduced to allow companies to plan successfully,” he mentioned