News Desk
Senator Adams Oshiomole, representing Edo North senatorial district, stated in an interview on Channels Television’s Politics Today that the Federal Government, state governments, and Nigerian workers have reached an agreement on the need to increase the national minimum wage. He emphasized that the current minimum wage of N30,000 is inadequate given the rising cost of living and economic realities. Oshiomole highlighted a consensus among employers, including private entities, as well as government bodies, on the necessity for a significant wage increase.
He said, “I think there is some unanimity between employers, including private employers and obviously the Federal Government and I believe state governments that the current minimum wage of N30,000 is a joke.
“There is a recognition of the fact that the purchasing power of the workers across the board including directors, permanent secretaries not to talk of those on levels one to four, has dropped radically and you need to beef it up.
“In a market economy, there are even countries where wages are indexed to the weight of inflation. So, I think there is a shared commitment that wages should go up and go up radically as much as prices have skyrocketed,”.
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Additionally, the Minister of State Labour, Nkeiruka Onyejeocha, assured Nigerian workers at the May Day celebration in Abuja that the new minimum wage would take effect from May 1, 2024, despite the delay in finalizing the document. Oshiomole commended the Federal Government for its commitment to implementing the new minimum wage. The current Minimum Wage Act of N30,000 was signed into law by former President Muhammadu Buhari in 2019.
Techrectory with Agency Report.
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