The Organized Private Sector, OPS, has reacted to the new minimum wage of N70,000 announced by President Tinubu on Thursday.

IVNTV NEWS had reported that President Bola Tinubu on Thursday approved N70,000 as the new minimum wage for Nigerian workers. The President, while making the pronouncement promised that the national minimum wage law would be reviewed every three years.

The former minimum wage law was reviewed every five years, the last been in 2019 under former President Buhari.

But reacting to President Tinubu N70, 000 announcement, the spokesperson of OPS, and Director General of the Nigeria Employers’ Consultative Association, NECA, Adewale-Smatt Oyerinde, expressed concern.

He warned that members of the OPS cannot be able pay the N70,000 national minimum wage. The spokesperson stated that for the OPS to be able to pay the new minimum wage. He, therefore, stated that the Federal Government will have to support sector.

Oyerinde was quoted as saying, “While we commend the President for putting to rest the immediate issue of the National Minimum Wage, we also note, most importantly, his commitment to support the sub-nationals and the organized private sector to pay the new wage.”

Recall that the agitation for new minimum wage by the organized labour was spike by economic hardship in the country. This was occasioned by the removal of petroleum subsidy by President Bola Tinubu during his swearing-in on May 29, 2023.