Micro, Small and Medium Scale Enterprises (MSMEs) in Edo State will find it challenging to pay N40,000 minimum wage, the Benin Chamber of Commerce, Industry, Mines and Agriculture (BENCCIMA) has said. The State Governor, Godwin Obaseki on May 1, 2022 during the Workers’ Day celebration increased the N30,000 minimum wage of civil servants in the state to N40,000.
However, Mrs Aina Omo-Ojeonu, President, BENCCIMA, told News Agency of Nigeria (NAN) in Benin on Wednesday that it would be a burden on the private sector to pay N40,000 minimum wage going by the present economic challenges in the country.
“We can’t afford that because the business environment is not conducive for us; there is still problem of poor power, poor infrastructure and inflation.
“It is good for the state workers; it will help increase their purchasing power, but we are looking at the inflation in the economy.
“The new wage will increase prices of goods and services in the state because sellers will believe that purchasing power has increased”.
