The Nigerian government says Nigeria Labour Congress’ N494,000 minimum wage demand will crippled the economy.

“Labour’s current proposal of N494,000 is an increase of 1,547 percent on the existing wage, and translates into an annual wage bill of 9.5 trillion naira for the federal government of Nigeria alone,” Mohammed Idris, minister of information, said on Monday.

He added “Such a wage bill would cripple the Nigerian economy, by leading to massive job losses especially in the private sector.”

The minister of information, in a statement, appealed to NLC and its affiliate unions to end indefinite strike that disrupted public and commercial activities across the the country on Monday 

On Monday, a nationwide strike saw public institutions, schools, banks, hospitals, airports, ministries and agencies, shutdown, paralysing public and commercial activities across the country.

NLC is demanding N494,000 minimum wage based on spiking cost of living, while the federal government is offering to pay N60,000. 

As a result of the strike on Monday, President Bola Tinubu’s government has called organised labour to further negotiate on the minimum wage.

NLC and its affiliate unions had declared indefinite nationwide strike over federal government’s failure to meet their demands on minimum wage increment a year after 

MR Tinubu assumed office and removed fuel subsidy.

Since Mr Tinubu declared fuel subsidy removal, transportation cost, food prices and cost of living have hit the roof. 

Market surveys by Peoples Gazette showed that food prices have astronomically spiked by above 100 per cent, while minimum wage for workers has remained what it was before Mr Tinubu assumed office.