The Nigerian workers, the Federal Government, and the state government have all agreed to the increase of minimum wage, as reported by the Senator representing Edo North, Adams Oshiomhole.
On Wednesday, 1st of May, 2024. Senator Oshiomhole made this statement in an interview with Channels Television’s Politics Today.
He also asserted that all concerned parties have considered that the current minimum wage of N30,000 is not suitable for today’s economy and should be increased to meet the current cost of living.
The former labour union leader 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 30,000 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,” Oshiomhole.
Remember that the federal government had promised all Nigerian workers that the new minimum wage as agreed will be effected from May 1, 2024.
While addressing Nigerian workers at the Workers Day celebration in Abuja on 1st May, The Minister of State Labor, Nkeiruka Onyejeocha, gave all Nigerian workers assurance that the minimum wage increase will take effect.
Although he regretted that the new national wage was not ready on May 1st, he assured that a wide consultation is currently underway to ensure that all the documents are out as soon as possible.
Senator Oshiomhole praised the federal government for promising Nigerian workers a new minimum wage that will take effect in May.
The current minimum wage Act, as signed by former President Muhammad Buhari in 2019, was N30,000.
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