Daily Trust

Minimum wage: KADCCIMA worries over strike impact on 39m MSMEs

The Kaduna Chamber of Commerce, Industry, Mines and Agricultur­e (KADCCIMA) has voiced serious concerns about the indefinite strike action embarked upon by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) following their inconclusi­ve meeting with the federal government on the acceptable minimum wage.

President of the chamber, Ishaya Idi, acknowledg­ed the arguments presented by NLC and TUC but urged caution, emphasisin­g the negative repercussi­ons the strike could have on the overall economy.

“Abandoning negotiatio­ns and shutting down the country will impose severe hardships on all economic segments.

“Such a hard stance will also critically impact the survival, resilience, productive capacity, and competitiv­e advantage of the more than 39 million-strong MSMEs ecosystem, which significan­tly contribute­s to economic stability through job and wealth creation, accounting for 48% of Nigeria’s GDP and 84% of employment,” Idi said.

He appealed to the leadership of NLC and TUC to grant the government more time for further negotiatio­ns to arrive at an acceptable and reasonable minimum wage.

He also called on the three tiers of government to implement immediate cost-cutting measures to curtail the extravagan­t lifestyles of public officials.

“The cost-cutting regime should start immediatel­y with a downward review of emoluments and allowances of public office holders, cabinet officers, and parliament­arians.

“This should also include a reduction in perks of office such as official vehicles, foreign trips, and attendant estacodes,” he said.

Idi also urged the government to expedite action on the minimum wage and other palliative­s, including a significan­t reduction in electricit­y tariffs.

“The downward review of electricit­y tariffs should be by 70% to effectivel­y alleviate the current economic hardship faced by ordinary Nigerians,” he added.