N70k Minimum Wage: APC Chieftain Explains Why Govt Should Be Cautious

• APC chieftain Hon Obidike Chukwuebuka has expressed concerns about the newly approved N70,000 minimum wage, warning of potential economic consequences if implemented hastily
• Obidike advised a phased implementation tied to economic growth and inflation indices to avoid sacrificing economic stability for political expediency
• The APC member stressed the need for a balance between workers' welfare and economic realities to prevent job losses and business closures

Abuja, FCT - In a new twist, an All Progressives Congress (APC) chieftain, Hon Obidike Chukwuebuka, has expressed reservations about the newly approved N70,000 naira minimum wage, warning of potential economic consequences.

Obidike, while acknowledging the good intentions behind the move, cautioned against ignoring the drastic increase's implications.

"The government must consider a phased implementation, tied to economic growth and inflation indices," he told Legit.ng. "We cannot afford to sacrifice economic stability for political expediency."

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Govt must balance workers' welfare and economic realities

Obidike emphasised the need for balance between workers' welfare and economic realities, stressing that a minimum wage increase should not lead to job losses or business closures.

He called for a collaborative approach to find a sustainable solution that benefits all Nigerians.

Legit.ng recalls President Bola Tinubu signed the new minimum wage bill into law on Monday, July 29, confirming his approval of N70,000 for Nigerian workers.

Tinubu signed the new law at the State House in the presence of Senate President Godswill Akpabio and Deputy Senate President Barau Jibrin, among others.

The new law is reviewable every three years as part of the agreement reached with organised labour.

Read more about N70k minimum wage:

• Full List of Organisations Exempted From Paying New N70k Minimum Wage Emerges
• N70k Minimum Wage: NYSC Corps Members Deserve Pay Increase, Says APC Chieftain
• How True Is Akpabio's Statement That Every Employer Is To Pay N70k Minimum Wage?

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Gombe gov says he can't pay N70k minimum wage

Meanwhile, Governor Inuwa Yahaya said his administration cannot pay civil servants in Gombe state the new national minimum wage of N70,000.

Yahaya said that the increased allocation from the federation account is insufficient to implement the increased wage package in the state.

He stated this while speaking at a meeting with labour leaders, civil society organisations, and traders associations at the Government House in Gombe on Tuesday, July 30.

Source: Legit.ng