A renowned business Tycoon and the CEO of Express Concern Int’l Group, Chief Dr. Daniel Okeke has urged Organized Labour to exercise consideration and diplomacy in their wage demands, given Nigeria’s ongoing unemployment issues.
He expressed concerns that a mandated N250,000 minimum wage could result in widespread retrenchment, as many state governments and private sector employers may be unable to meet such requirements.
“Organized Labour must be considerate and diplomatic in their requests,” stated Dr. Okeke. “With Nigeria grappling with significant unemployment challenges, insisting on a N250,000 minimum wage could lead to retrenchments, as some state governments and private sector entities are not financially equipped to pay. Such retrenchments would further destabilize our already fragile economy.”
Dr. Okeke highlighted the broader economic repercussions of potential large-scale retrenchments, urging both the federal government and Organized Labour to weigh the potential outcomes carefully.
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Furthermore, Dr. Okeke called on the federal government to enforce stricter price regulatory policies to protect citizens from exploitation by businesses. He questioned the logic behind the rising costs of essential agricultural products in relation to the exchange rate, noting, “It is perplexing how fluctuations in the dollar can justify price increases in agricultural products such as garri.”
Emphasizing the need for systemic reforms, Dr. Okeke also advocated for the establishment of a robust workforce management system across all ministries and agencies. He believes that such a system would significantly enhance productivity and ensure ethical conduct within the public sector.
“I urge the federal government to take price regulation seriously, as numerous businesses and companies are exploiting citizens,” Dr. Okeke asserted. “Additionally, I call on the federal government to implement a reliable workforce management system in all ministries and agencies to boost productivity and uphold ethical standards.”
Chief Dr. Daniel Okeke’s statements reflect a call for balanced and pragmatic solutions to Nigeria’s economic challenges, emphasizing the importance of collaborative efforts between Organized Labour and the federal government.
