Financial expert, Bismarck Rewane has called on Nigerian labour leaders to reassess their wage increase demands, warning that high wage hikes could lead to widespread job cuts, particularly in the private sector.
Rewane made these remarks during a speech at the 2024 Vanguard Economic Discourse, on Tuesday, in Lagos.
Rewane emphasized the importance of considering the impact of wage increases on business sustainability, and argued that high labour costs could pressure private companies, the main source of employment in Nigeria, to resort to layoffs as a cost-saving measure.
