Minister of Information and National Orientation, Mohammed Idris, has said the N494,000 national minimum wage being demanded by organized labour, which cumulatively amounts to the sum of N9.5 trillion would destabilize the economy and jeopardize the welfare of over 200 million Nigerians.

In a statement signed by his Special Assistant (Media), Rabiu Ibrahim, he said the offer of N60,000 minimum wage by the Federal Government, which translates to a 100% increase on the existing minimum wage has been accepted by the organized private sector.

"The Federal Government's New Minimum Wage proposal amounts to a 100% increase on the existing minimum wage 2019. Labour, however, wanted N494,000, which would increase by 1,547% on the existing wage.

"The sum of N494,000 national minimum wage which Labour is seeking would cumulatively amount to the sum N9.5 trillion bill to the Federal Government of Nigeria.

"Nigerians need to understand that whereas the FG is desirous of ample remuneration for Nigerian workers, what is most critical is that President Bola Ahmed Tinubu will not encourage any action that could lead to massive job loss, especially in the private sector, who may not be able to pay the wage demanded by the Organised Labour," he said.

According to Idris, Labour was keen on the take-home pay of about 1.2 million workers but the Federal Government was concerned with the welfare of over 200 million Nigerians based on its Guiding Principle of Affordability, Sustainability, and the overall health of the nation's economy.

He appealed to the Organised Labour to return to the negotiating table and accept realistic wages for their members.

He said because of the commitment of the Federal Government to the welfare of workers, the wage award of 35,000 for Federal workers would continue until a new national minimum wage was introduced.