Small businesses can’t afford Obaseki’s N40,000 minimum wage: BENCCIMA
The Benin Chamber of Commerce, Industry, Mines and Agriculture (BENCCIMA) says Micro, Small and Medium Scale Enterprises (MSMEs) in Edo will find it challenging to pay N40,000 minimum wage.
President of BENCCIMA, Aina Omo-Ojeonu, told journalists in Benin that it would be a burden on the private sector to pay the N40,000 minimum wage going by the present economic challenges in the country.
“We can’t afford that because the business environment is not conducive for us; there is still a problem of poor power, poor infrastructure and inflation,” she said.
On Workers’ Day, Governor Godwin Obaseki announced an increase in the N30,000 minimum wage of workers in the state to N40,000.
However, Mrs Omo-Ojeonu said the development was only good for civil servants.
“It is good for the state workers; it will help increase their purchasing power, but we are looking at the inflation in the economy.
“The new wage will increase prices of goods and services in the state because sellers will believe that purchasing power has increased”, she said.
(NAN)
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