The president of the Kaduna Chamber of Commerce, Industry, Mines, and Agriculture, Ishaya Idi, has called on President Bola Tinubu’s government to prioritize the implementation of the minimum wage.
Mr. Idi also emphasized the need for additional palliative measures, including a downward review of electricity tariffs, to alleviate the hardships faced by ordinary Nigerians amidst the current economic challenges.
In a statement, Mr. Idi expressed concerns about the indefinite strike initiated by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), highlighting the potential negative repercussions on the overall economy.
While acknowledging the arguments put forward by the NLC and TUC, Mr. Idi stressed the importance of approaching the situation cautiously to avoid adverse effects on the economy.
He pointed out that abandoning negotiations and shutting down the country would lead to significant hardships across all sectors.
The survival, resilience, productive capacity, and competitive advantage of the Micro, Small, and Medium Enterprises (MSMEs) ecosystem, which comprises over 39 million entities, could be severely impacted.
Mr. Idi highlighted the significant contributions of MSMEs to economic stability through job creation and wealth generation, accounting for 48% of Nigeria’s GDP and 84% of employment.
He urged the organized labor to reconsider their approach and return to the negotiation table. Simultaneously, he called on all levels of government to adopt cost-cutting measures.
According to Mr. Idi, the government should condemn any display of an inflated sense of personal importance and take decisive actions to reduce the overall cost of governance.
He proposed starting with a downward review of emoluments and allowances for public office holders, cabinet officers, and parliamentarians. Additionally, he suggested evaluating and reducing perks such as official vehicles, foreign trips, and related expenses.
In conclusion, Mr. Idi emphasized the importance of swift action on the minimum wage issue and the implementation of economic palliatives, while urging a proactive approach to cost-cutting measures in governance.
