May 2, 2024

Govt, workers have agreed on minimum wage increase — Oshiomhole

Govt, workers have agreed on minimum wage increase — Oshiomhole


The Senator representing Edo North, Adams Oshiomhole said the Nigerian workers and the Federal Government, as well as the state governments have agreed on the need to increase the minimum wage.

Oshiomhole stated this in an interview on Channels Television’s Politics Today on Wednesday.

The former labour union leader said all concerned parties acknowledged that the current minimum wage of N30,000 is outdated and should be increased to meet with rising cost of living.

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 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,” he said.

Recall that the federal government had assured the Nigerian workers that the new minimum wage will take effect from May 1, 2024.

The Minister of State Labour, Nkeiruka Onyejeocha, gave the assurance on Wednesday while addressing Nigerian workers at the May Day celebration in Abuja.

Onyejeocha said it is regrettable that the new national minimum wage is not ready before today, but that a wide consultation is ongoing to ensure that the document is out together as soon as possible.

Oshiomhole commended the Federal Government for assuring the workers that a new minimum wage will take effect from May 1.

The current Minimum Wage Act of N30,000 was signed by former President Muhammadu Buhari in 2019.

The Act is to be reviewed every five years to meet with contemporary economic demands of workers.