This is also as he declared that the minimum wage being pushed by organized labour would further reduce the purchasing power of the Naira. He said that the action would spell doom for the Nigerian economy. Chyma contended that the new minimum wage pushed by the Nigeria Labour Congress and the Trade Union Congress of N494,000 would further push the Nigerian economy into the bottom of hyper inflation, as the purchasing parity of Nigerians would worsen from hike in the prices of goods and services.
'With the current economic reality in Nigeria, organised labour should press on the federal government to fix the refinery and ensure that the price of key energies in the country drop and by such, the impact on the lives of Nigerians will be significant, especially as it affects workers and businesses across the nation. 'I must say that a price reduction in PMS is capable of forcing down prices of goods and commodities across all sectors of the Nigerian state.
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