The Nigeria Employers’ Consultative Association (NECA) says Federal Government must conclude all legal processes for the implementation of the 30,000 minimum wage before Dec. 31, to ensure its implementation by Jan. 1, 2019.
NECA President, Mr Muhammed Yunusa, disclosed this at a briefing shortly after the associations’ governing council meeting in Lagos on Thursday.
Yunusa said the N30, 000 minimum wage would lift workers’ purchasing power.
“Payment of the agreed new minimum wage will increase total demand and ultimately stimulate economic activities.
“Government should be focused on how to broaden the nation’s revenue base, ensure the viability of the states of the federation and curb or eliminate wastages,” he said.
Yunusa said it is not uncommon to hear outcry of inability to pay by some employers but it is for each and every employer including government to focus inward to effect the necessary adjustment to be able to pay.
He said the ability to pay should not be an issue if there is efficiency, effectiveness and prudence in the administration of the government resources.
On the African Continental Free Trade Agreement (AFCTA), Yunusa said that it was not in support of the agreement because it has a potential of damaging local businesses as well as the national economy.
“Stakeholders have said that signing the agreement is dangerous as it is a neo-liberal policy initiative, aimed at opening our seaports, airports and other businesses to unbridled foreign interference.
“AFCTA will further drag the comatose real sector into extinction. The once thriving textile industries have become ghosts of their former self,” he said.
Yunusa said the organised private sector rejects the ratification of AFCTA until its dues of market access and enforcement of rules of origin among other concerns are resolved.