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As the Organised Labour embarks on a nationwide strike over demand for a new minimum wage for workers in the country, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said stakeholders including the Federal Government, labour unions and the Organised Private Sector should not wait till the expiration of the five-year validity period of minimum wage before negotiating a new living wage.
The minister said, “It is difficult because the worker deserves his wage and given what is going on, they deserve a change and in fact, by law, every five years, and may be, we shouldn’t have to wait five years everytime to set a new wage scale. The fact is that by law, it is a minimum wage.“So, you are not setting a wage for Federal Government workers, for example.
“We have to focus on the fact that once it is enshrined in law, everybody that falls into the category of having to pay the minimum wage must pay it. Therefore, the affordability has to be taken into account.
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