Private sector opposes N100,000 minimum wage proposal, calls it unsustainable

Nigeria’s private sector has raised concerns over proposals to peg the national minimum wage at N100,000, warning it may be unsustainable for many businesses already battling rising costs.

According to The Punch, employers argue that small and medium-scale enterprises are under intense pressure from inflation, high energy prices and multiple taxes, making it difficult to absorb higher wage obligations. They insist wage decisions must reflect economic realities to avoid job losses and business closures.

The stakeholders are urging a balanced approach that protects workers while keeping firms afloat in an already fragile economic environment.