Following the agreement reached by the Federal Government and organized labour over the N70,000 minimum wage, the Organized Private Sector of Nigeria (OPSN) has expressed concern over its ability to pay the newly approved minimum wage.

Recalls that the leadership of the workers’ union accepted the N70,000 minimum wage because President Tinubu promised to support the private sector in paying the new minimum wage. However, the OPSN asked the Federal Government to immediately announce the proposed support it promised organized businesses to enable effective planning, stating that private organizations are overburdened by high production costs and other necessities.

The Director-General of the Nigeria Employers’ Consultative Association (NECA), Mr. Adewale-Smatt Oyerinde, stated this on behalf of the group, though the group commended the federal government for approving the new minimum wage.