O
Oladipo Abiola
Guest
Edo North Senator, Adams Oshiomhole, has urged employers of labour, including the private sector, state and federal governments, to pay workers above the approved minimum wage of ₦70,000.
According to the former Edo State Governor, the urge is due to Nigeria’s depreciating and current economic realities.
Oshiomhole argued that the concept of minimum wage is grossly misunderstood in Nigeria, noting that the whole idea of minimum wage is not to restrict worker salaries but to protect the lowest income earners.
Naija News reports Oshiomhole made the submission on Wednesday while speaking at the 2024 Distinguished Personality Lecture for Executive Intelligence Management Course (EIMC) 17 of the National Institute For Security Studies (NISS), an educative arm of the Department of State Services (DSS), in Abuja.
He commended state governments that have offered to pay more than ₦70,000 and urged the federal government to also pay more, especially for workers living in expensive cities such as Abuja.
The former president of the Nigeria Labour Congress (NLC), explained that during the tenure of President Shehu Shagari in the Second Republic, when the concept of minimum wage was introduced, it was ₦125 or about $160 at the time but today, with the national minimum wage set at ₦70,000 or about $42, things have not really improved for Nigerian workers.
According to him, “The whole idea of minimum wage is not to determine income of workers but to protect lower income earners. Serious employers of labour should pay much more than the minimum wage. I commend some state governments who have already approved above N70,000 and I also believe the federal government should pay more, especially for workers in Abuja because things are pretty expensive in Abuja.”
The former Governor also called for a periodic and frequent review of the minimum wage in line with inflationary tendencies.
Oshiomole said the Naira is grossly undervalued in relation to its purchasing power, noting that even though the exchange rates are always cause for concern, what Naira can buy in Nigeria, the equivalent may not buy the same in the USA.
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