FG In Pursuit Of Economic Equilibrium Amidst Minimum Wage Negotiations

• SGF George Akume emphasizes economic productivity and stability in setting a new national minimum wage.

• Government aims to control inflation and ensure a balanced economy alongside wage increases.

• Akume criticizes organized labour for shutting down the national grid during a recent strike.

EKO HOT BLOG reports that the Secretary to the Government of the Federation (SGF), George Akume, has stated that the federal government is considering economic productivity and stability in determining a new national minimum wage.

This statement comes amidst ongoing negotiations with organized labour and the private sector.

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Akume emphasized that the government is focused not only on establishing a new minimum wage but also on controlling inflation and achieving a balanced economy. He stressed the importance of productivity alongside wage increases, highlighting that merely demanding higher wages without corresponding productivity is unsustainable.

Speaking to the National Executive Council of the Christian Association of Nigeria (CAN) in Abuja on Thursday, Akume said, “Our people must rise up and have something in their pockets. It is not about demanding 100,000 naira without productivity. We are looking at controlling inflation and ensuring a balanced economy.”

Additionally, Akume criticized organized labour for shutting down the national grid during a nationwide strike on Monday, which was aimed at pressing the government to approve a higher minimum wage for workers.

According to him, shutting down the grid is a treasonable offence.

“Nowhere in the world has labor ever tampered with the national grid. It is treason! Treasonable felony is economic sabotage, you don’t do that.

“We are trying to rebuild the economy. The president is picking up, and they want to destroy it. Of what use is that to all of us? That is not the way,” he said.

The SGF assured of the commitment of the Bola Tinubu administration to an acceptable minimum wage, adding that the government has deployed some palliative to cushion the effect of the economic hardship in the country.

Minimum Wage Negotiations

“In 2019, the minimum wage was legislated up to 30,000 naira. It is an exclusive issue in the constitution, not on the concurrent list, but on the exclusive legislative list. That is why it is the federal government, working with organized private sector and labor, that recommends it to the president for the national assembly’s attention.

“It is not that we are not working. We are working, and that is why we implemented the 35,000-naira wage, which is more than the minimum wage. There are buses ready to be distributed, and soon, rice and other essentials will be available,” Akume explained.

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He also called on the church to collaborate with the government in the task of providing essential services such as education, health, and agriculture.

“The church must collaborate with the government in providing facilities for people whether it is in education, health, or agriculture. We don’t separate; we combine. There is a symbiotic relationship that can never be destroyed,” he said.

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