Describing the current N30,000 minimum wage as inadequate, Edo North Senator, Adams Oshiomhole expressed his views on the matter.
Oshiomhole emphasized the necessity of increasing workers’ pay in light of the current economic situation marked by soaring prices.
During an appearance on Channels Television’s program ‘Politics Today,’ the lawmaker highlighted the consensus among Nigerian workers, the Federal Government, and state governments regarding the urgency of raising the minimum wage.
He pointed out, “There is a general agreement among employers, both in the private and public sectors, as well as the Federal and state governments, that the current 30,000 Naira minimum wage is inadequate.”
Addressing the drastic decline in purchasing power affecting workers at all levels, including directors and permanent secretaries, Oshiomhole stressed the need for a significant wage increase.
He remarked, “In some countries with market economies, wages are linked to inflation rates. Therefore, there is a consensus that wages must be substantially increased to keep up with the skyrocketing prices.”
It is worth recalling that the federal government has promised Nigerian workers that the new minimum wage will come into effect from May 1, 2024.
This announcement followed the government’s approval of a 25% and 35% salary hike for the remaining six consolidated salary structures.