Adams Oshiomole, the Senator representing Edo North, on Wednesday, lamented the hardship being faced by workers in the country.
He noted that Nigerian workers today are significantly poorer than previous generations.
News About Nigeria reports that the former Edo State governor said this during a lecture for members of the Executive Intelligence Management Course 17 at the National Institute of Security Studies in Abuja.
Speaking on the newly approved N70,000 minimum wage, he stated that it is equivalent to just $42 when converted to dollars, a sharp decline compared to the past.
He said, “When the minimum wage in Nigeria was established under President Shagari, around 1981, it was about N125, which was equivalent to around $160 a month. Today, despite a 100% increase achieved by labour last year, the current exchange rate reduces this N70,000 to just $42. So, if you divide N70,000 by N1,650, it gives you $42. This shows that working people are much, much poorer now than we were many years ago. This income devaluation affects the quality of life and everything else. A serious employer should not be paying the minimum wage; they should pay more. Major employers, like the civil service, should not pay just the minimum wage.
“I expect the Federal Government will, over time, adjust its minimum wage. When I was NLC President, we agreed that oil-producing states, like Delta, Bayelsa, Rivers, Akwa Ibom, and Lagos, which have significant revenue, should pay no less than N7,000—the same as the federal rate. Interestingly, when we pursued this, the current President was then Governor of Lagos State. He showed me all the books and said he couldn’t afford it, but I had to push him. We organised strikes to make sure that all necessary funds were used for salaries, even if it meant sacrificing other projects.”
