The 54th President, Institute of Chartered Accountants of Nigeria (ICAN), Mr. Razak Jaiyeola has stressed that pegging the national minimum wage at N30,000, is insensitiveย as cost of living is extremely high.
He statedย this while fielding qiestions from Pilot Business at the Ilorin International Airport, on Tuesday.
The ICAN President said, ” The minimum wage is really a big issue considering the cost of living in this country,ย pegging it at N30,000 is a problem.
“On the other hand, we should look at the resources in the country and how it is being managed, in order to strike a balance on what minimum wage.
” If our resources is being properly managed, N30,000 is too small given theย cost ofย living for an individual in this country,” he added.
Jaiyeola advised that the Federal Government should get experts to design paradigms on managerial aspects of the resources to tally with a workable wage scales .
He said, ” There must be a political will to be able to peg minimum wage for theย labour force on what actually is required to meet the present situation.
Meanwhile, the meeting between President Muhammadu Buhari and the Nigerian Governor โs Forum to resolve the raging dispute over the proposed N 30 ,000 National Minimum Wage ended in a deadlock on Monday in Abuja .
The Chairman of the NGF , and Governor of Zamfara State , Mr Abdulazeez Yari, led a smaller team of governors to the meeting to speak for the Forum .
Those at the meeting included Lagos State Governor , Akinwumi Ambode ; Kebbi State Governor , Mr Atiku Bagudu ; and the Enugu State Governor , Mr Ifeanyi Ugwuanyi.
The Minister of Labour and Employment , Senator Chris Ngige , was also at the meeting .
Recall that the majority of the 36 state governors had maintained that they could only afford to pay N22 ,500 as the NMW .
They had also stated that the other options were for them to reduce their workforce or the Federal Government would have to review the revenue sharing formula to make more money available to the states .
The Ekiti State Governor , Mr Kayode Fayemi, is one of the key proponents of a revenue formula review.
Signs of a deadlock at the meeting was noticed when the governors emerged wearing long faces and refused to formally address State House correspondents .
One after another , Yari and his colleagues declined to talk .
Similarly , the Presidentโ s Media Office , which earlier promised to brief reporters on the outcome of the meeting , also kept mum after the meeting .
As of the time of filing this report , the media office had yet to respond to any inquiries.
However , findings indicated that pressure was put on the governors to move up to N24 ,000 , a middle course the Federal Government was said to be disposed to as the new minimum wage .
