Group urges Federal government to stabilise economy before new minimum wage.

Nigeria Employers’ Consultative Association, NECA, has given the Federal Government a hint on how to make the planned new minimum wage meaningful.

According to the body, government must stabilise the economy by refocusing the fiscal and monetary policies to be pro-growth and address the challenge of multiplicity of taxes and levies.

NECA’s Director-General, Wale-Smatt Oyerinde also urged the government to deal with strangulating regulations that stifle productive activities, rather than promote them, address the increasing inflation rate and decisively deal with government’s revenue challenge and the general inhospitable business environment.

He lamented that the socio-economic realities in the country had over the years rendered the thirty thousand minimum wage inadequate.

Oyerinde said the inability or refusal of some state governments to pay the minimum wage had further impoverished workers and their households.