The Nigeria Employers Consultative Association has cautioned that no amount above N62,000 should be approved as minimum wage so it does not lead to job losses.
Adewale-Smatt Oyerinde, the Director-General of NECA, said this when he spoke with journalists on Tuesday in Abuja.
He spoke on the sidelines of the third edition of the Nigeria Employers Summit, with the theme: “Economic Renaissance: Harnessing Government Reforms and Private Sector Agility.”
Oyerinde said that the organised private sector cannot afford above N62,000 as agreed during the tripartite committee negotiation meetings.
According to him, any figure above N62,000 will create two different dynamics: setting the the tone for non-compliance and attendant litigations.
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He stressed that setting a national minimum wage that will take away the ability to pay will set a stage for litigation and crisis.
On the allegation of delay in the process, Oyerinde said there was no delay as the process was ongoing.
He said: “There is no waiting game and I think we have to put all this in context.
“It is misinformation.”
He said after the tripartite committee’s recommendations to President Bola Tinubu, a Bill is expected to be sent to the National Assembly for legislation.
He said what labour can advocate for is a fast-track of the process.