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.

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