May 31, 2024

Minimum wage: Focus on job security, NECA begs

Minimum wage: Focus on job security, NECA begs

By Victor AhiumaYoung

Ahead of today’s reconvening of the minimum wage committee, Nigeria Employers’ Consultative Association NECA, has urged the members of the committee to focus on job creation and job security in view of the increasing number of unemployed youths.

NECA’s Director-General Adewale Smatt Oyerinde a statement said “What the Committee was inaugurated to negotiate is a MINIMUM wage and not a general salary increase as been peddled. It is the minimum amount that no employer should pay.

“However , employers with more capacity can pay above it. Other variables such as productivity, competence and skills should be the key variables and driver of wage increase.

“It is disheartening that the survival of business enterprises, who ordinarily are the biggest creator of jobs, has been relegated to the background. It is no secret that many organizations have either left the country or reduced their capacity utilization, thus fuelling the rising unemployment rate.

“It is our firm belief that in our current economic situation, a 100 percent increase in the national minimum wage is sufficient to drive growth and enable a path towards wealth creation, enterprise sustainability and economic renaissance or rebirth.

“We reiterate that what is being negotiated is a national minimum wage, to enable the most vulnerable employee and not a general salary increase.”