SGF Akume Decries Unaffordable Minimum Wage Demand Amid Economic Concerns

By Abass Ganiyu

Secretary to the Government of the Federation (SGF), George Akume, has expressed concerns over the wage increase demands made by organized labour, deeming them unrealistic. Speaking at a meeting with the National Executive Council (NEC) of the Christian Association of Nigeria (CAN) in Abuja on Thursday, Akume revealed his struggle with the proposed minimum wage of ₦100,000.

Akume, a former governor of Benue State, explained that paying such a wage would be financially burdensome, particularly highlighting his personal difficulty in affording ₦100,000 for each of his four drivers. "I can’t afford to pay my driver one hundred thousand because they are four,” Akume lamented, emphasizing the financial strain such a mandate would impose.

He further questioned the practicality of meeting the wage demands from a governmental perspective, asking, “Where do we get that money from?” Akume's remarks reflect the broader challenges faced by the government in balancing fair wages with fiscal constraints.

The SGF also appealed to the Christian community for support as negotiations continue within the tripartite committee on the minimum wage. His plea underscores the delicate balance the government must maintain between meeting the demands of organized labour and ensuring economic stability.

Akume's statement has sparked discussions on the feasibility of wage increases in the current economic climate, with many citizens and stakeholders awaiting the outcome of ongoing negotiations. As the tripartite committee deliberates, the government’s approach to addressing these wage demands will be crucial in determining the financial wellbeing of both civil servants and the broader Nigerian economy.

The situation highlights the pressing need for a sustainable economic strategy that can support fair wages without compromising fiscal responsibility. The outcome of these negotiations will likely set a precedent for future labour relations and economic policies in Nigeria.

Comments

Post a Comment

Popular posts from this blog

House of Representatives Ordered NNPC to Suspend Crude-for-Loan Deal

By Abass Ganiyu
Image
By Abass Ganiyu In a decisive move, the House of Representatives has ordered the Nigerian National Petroleum Corporation (NNPC) to suspend its controversial crude-for-loan deal, effective immediately. This directive follows mounting scrutiny and calls for transparency regarding the terms of the agreement and its implications for Nigeria’s oil sector and national finances. The crude-for-loan deal, which involves the exchange of crude oil for loans to finance various infrastructure projects, has faced criticism over its potential impact on Nigeria’s oil revenues and national debt. Critics argue that the deal may compromise Nigeria’s oil assets and expose the country to financial risks. The decision by the House of Representatives comes after a series of debates and hearings on the deal’s terms and its alignment with national interests. Legislators expressed concerns about the lack of transparency and the potential for adverse effects on the country’s financial stability. With...
Read more

Customers besiege banks to reactivate dormant accounts

By Abass Ganiyu
Image
By Joy Adekayero Many bank customers affected by the new Central Bank of Nigeria guidelines on dormant accounts rushed to their various banks on Tuesday to reactivate the accounts. Some of the customers, who spoke to the News Agency of Nigeria in Abuja on Tuesday, said they had to activate their bank accounts to avoid the mopping up of their little savings by CBN. Further inquiries by our correspondent confirmed the situation, with courtrooms also becoming crowded with requests to swear affidavits. A bank official at a first-generation bank informed The PUNCH that numerous customers and families had submitted requests to re-activate inactive accounts so as not to lose the money to the apex bank that intends to use them for investment purposes. The official said, “Yes, we have seen customers coming to the bank to reactivate their accounts. Even relatives and next of kin to dead persons have submitted applications to withdraw amounts left in the account of their loved ones. I...
Read more

EFCC Arraigns TSTV Executives for Tax Evasion and Money Laundering

By Abass Ganiyu
Image
ABUJA – The Economic and Financial Crimes Commission (EFCC) has arraigned the Managing Director and CEO of Telcom Satellites TV (TSTV), Dr. Bright Ikechukwu Echefu, along with the Executive Director, Dr. Felix Nnamdi Ignoanuga, at the Federal High Court in Abuja. They face nine charges, including tax evasion and money laundering. The EFCC accuses the defendants of failing to remit VAT, company income tax, and PAYE from their employees' salaries, diverting substantial funds for personal use. Additionally, they allegedly defrauded Senior Advocate of Nigeria (SAN) Turaki Kabir Tanimu of N960 million under false pretenses. The prosecution's charges highlight several instances where the defendants purportedly redirected significant amounts meant for government taxes to personal accounts. The EFCC claims that the defendants defrauded Turaki of large sums under the guise of securing loans for telecom equipment acquisition. These transactions were detailed with specific amo...
Read more