Former Voice of Nigeria director general Mr. Osita Okechukwu pleaded with Organised Labour to exercise caution in their demand for a minimum wage, warning that an unrestricted strike could destabilise the economy and have unforeseen repercussions.
Although Okechukwu agreed with Organised Labour in a statement on Sunday that workers should be paid a living wage, particularly in the face of stagflation and worsening living conditions, he suggested that workers “adopt house ownership for every worker as middle ground, to augment the N60,000 offered by government and the private sector.”
According to Okechukwu, owning a home should be a top priority since it enhances living conditions and boosts productivity.
In light of this, he urged President Tinubu to restructure his Renewed Hope housing plan and implement home ownership for all employees across the country as a means of replacing the overpriced minimum salary.
Since workers have been contributing 2.5% of their salaries to the National Housing Fund for years, Mr. President’s proposal to allow all workers to buy a home is a workable middle ground in this deadlock; all that is required is a contribution from the federal, state, local government, and private sectors. According to Okechukwu.
He insisted that more than ten states could not afford the N497,000 or had outright refused to pay the N30,000 up to this point.
While it is true that there is economic hardship and a falling quality of living, owning a home is a better option than having more liquid cash, which may cause hyperinflation to spiral out of control and result in a mass layoff of workers. Okechukwu added more emphasis.