Minimum wage: Private Sector reacts as President Buhari signs N30000 into law

President Muhammadu Buhari

Minimum wage: Private Sector reacts as President Buhari signs N30000 into law

The Organised Private Sector, OPS, has said that signing the new minimum wage into law is an indication of President Muhammadu Buhari’s passion and concern for workers in the country.

Timothy Olawale, Director General of Nigeria Employers’ Consultative Association, NECA, said this at the OPS meeting on Thursday in Lagos.

The House of Representatives and the Senate had earlier passed the N30,000 new minimum wage proposed by the tripartite committee set up by the President.

The approved new wage was achieved after more than a year negotiation by the tripartite committee in addition to protest and strike by the organised labour.

”The organised businesses wish to commend the President for attending to the National Minimum Wage Bill as sent by the National Assembly.

”It shows that he cares for the welfare of the masses and working class in particular. We believe that the implementation date will be the date of assent,” Olawale said.

He said that the National Minimum Wage was not a general salary increase but a wage below which no employer should pay.

He said employers who are already paying above N30,000 are not obligated to comply while other Social Partners should respect the understanding so as not to jeopardize the peace in the Private Sector.

The NECA boss said that organised businesses’ would be committed to the implementation of the new National Minimum Wage to ensure industrial hamony.

He urged employers to take note of the date of implementation and seek further clarification, when in doubt.

The Federal Government last reviewed its National Minimum wages in 2011 during former President Goodluck Jonathan’s administration.