July 21, 2024

NECA calls for the reversal of increase in electricity tariff.

By Afolabi Oyekunle.

The increase in the electricity tariff is detrimental to the business sector and the people and should be reversed.

This is coming from the Director General of the Nigeria Employers Consultative Association, Adewale Oyerinde while speaking in Lagos at a Forum of the Labour Writers Association of Nigeria.

He said the increase would lead to escalation of cost of goods and services and it will erode any new minimum wage giving to workers, as it is like giving relief in one hand and taking it back with the other hand.

The NECA Director General also called on the government to address issues of food inflation and transportation and look into the areas of relief for the people.

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Speaking on the issue of the minimum wage, he said the tripartite committee set up on the issue has submitted it’s report to the government and it is now for President Bola Tinubu to speak on it.

“Whatever the tripartite committee presents to the government is a recommendation, the president remains the sovereign authority to decide”

He however said productivity and competence should be key factors in determining the minimum wage.

The NECA DG said the team of the Organized Private Sector painfully agreed to 62thousand naira as they know the implications of higher wages .

He urged Labour to be realistic with the economic situation as the country could not afford to pay money that would kill the business sector.