The leadership of the organised labour in Nigeria has been cautioned over the planned nationwide strike planned for Monday, June 3, 2024, that the action will spell doom for the Nigerian economy.

The call for reconsideration of the strike action was made by a legal expert and business consultant, Mr Chyma Anthony, in a press release on Sunday in Abuja.

Anthony contend that the new minimum wage pushed by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) of N494,000 will further push the Nigerian economy into the bottom of hyper inflation as the purchasing parity of Nigerians will worsen from hike in the prices of goods and services.

Rather, Anthony urged the labour organisations to push for a reduction in energy prices, especially petrol, cooking gas, kerosene, and diesel, which are the key drivers of the local economy.

He said asking for higher wages will come with a hyper price increase in essential commodities that will make the impacts of the new minimum wage useless.

“With the current economic reality in Nigeria, organised labour should press on the federal government to fix the refinery and ensure that the price of key energies in the country drop and by such, the impact on lives of Nigerians will be significant especially as it affects workers and businesses across the nation.

“I must say that a price reduction in PMS is capable of forcing down prices of goods and commodities across all sectors of the Nigerian state.

“Also, I expect labour to mount pressure on the federal government to reduce insecurity in the country to a minimum level so as to allow farmers go back to their farms and businesses in the hinterlands to pick up instead of demanding a huge new minimum wage that clearly and sincerely government cannot afford, and this will further exacerbate the condition of Nigerians,” Anthony said.

He further stated that the leadership of the National Assembly should, as a matter of urgency, proffer solutions and modalities to strengthening governance. The legislature must also work with the executive to fix the economy. Our refineries should be made work. Manufacturing and production must be a top priority now.

He said the Naira must be supported by encouraging made in Nigeria products against the current penchant for foreign goods.

“Labour must resist all temptations and jettison the planned strike. I believe that every well-meaning Nigerian will not support wage increase or subsequent strike,” Anthony said.