The Manufacturers Association of Nigeria (MAN) has requested that micro, small, and medium enterprises (MSMEs) be exempt from the new N70,000 minimum wage.
They are waiting for the federal government’s promised assistance to help the organized private sector (OPS) comply with the wage increase.
Segun Ajayi-Kadir, MAN’s Director General, praised President Bola Tinubu for negotiating the new minimum wage with labor unions.
He stressed the need for government support to address the challenges businesses face in meeting the new wage requirements.
The OPS has asked for several measures, such as duty exemptions, a freeze on new taxes, and a fixed rate for import duties, to help businesses cope with the new wage.
President Tinubu has committed to supporting the private sector in implementing the new minimum wage.
(Vanguard)