Business
FG Inaugurates Minimum Wage Committee
Federal government has inaugurated a tripartite committee on a new national minimum wage in Abuja.
Inaugurating the committee, secretary to the government of the federation (SGF), Alhaji Yayale Ahmed, said that the panel would address the needs of the Nigerian workers for a decent life.
“It is also being inaugurated in the context of profound changes in the global economy, of which we are important as a national economy.
This has made it necessary to consider all major initiatives with great care”.
“The terms of reference of the committee include consulting all stakeholders in the issue of a national minimum wage in the context of the dynamics of national economy and to propose a realistic and practical national minimum wage to the government.
These are gentlemen, they know what is good for the country, and they know what we need. “On the government’s side they must be responsible.
On the employers side, there must be responsibility and I expect the same thing from the unions.
“May be it will not take us time to arrive at what we want I am very sure it will stand for a long time as a model for a tripartite negotiation in arriving at what is best for the workers in this country, said the committee chairman Justice Alfa Belgore.
The 24-member committee has eight representatives each from the government, labour and employers with Mr Richard Egbule as the secretary.
The members of the committee include Nigerian Labour Congress (NLC) President, Abdulwaheed Omar, Trade Union Congress (TUC) President, Peter Esele, TUC General Secretary, John Kolawole, NLC’s vice president, Isa Aremu and the Director General of National Employment Consultative Assembly (NECA), Mr Segun Osinowo.
Others are the minister of Labour, Prince Adetokumbo Kayode; the minister of state for Education, Health and Finance; representative of the Governors of Enugu, Gombe and Lagos States as well as the representative of the head of civil service of the federation.
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Sugar Tax ‘ll Threaten Manufacturing Sector, Says CPPE
In a statement, the Chief Executive Officer, CPPE, Muda Yusuf, said while public health concerns such as diabetes and cardiovascular diseases deserve attention, imposing an additional sugar-specific tax was economically risky and poorly suited to Nigeria’s current realities of high inflation, weak consumer purchasing power and rising production costs.
According to him, manufacturers in the non-alcoholic beverage segment are already facing heavy fiscal and cost pressures.
“The proposition of a sugar-specific tax is misplaced, economically risky, and weakly supported by empirical evidence, especially when viewed against Nigeria’s prevailing structural and macroeconomic realities.
The CPPE boss noted that retail prices of many non-alcoholic beverages have risen by about 50 per cent over the past two years, even without the introduction of new taxes, further squeezing consumers.
Yusuf further expressed reservation on the effectiveness of sugar taxes in addressing the root causes of non-communicable diseases in Nigeria.
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