Nigerians have sternly condemned the increase of the new minimum wage to N70,000 by the President Bola Tinubu-led federal government.
Chronicle NG reports that Tinubu has approved N70,000 minimum wage for Nigerian workers.
The president vowed to review the national minimum wage law every three years.
Tinubu also pledged to help the private sector and sub-national governments (state governments and local governments) pay the minimum wage.
The decisions were announced at the meeting held with the leaders of organised labour, the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), on Thursday in Abuja.
Comrade Joe Ajaero, President of the Nigeria Labour Congress (NLC), and Comrade Festus Usifo, President of the Trade Union Congress (TUC), were present at the meeting alongside some members of their unions.
“The Labour leaders applauded President Tinubu for the fatherly gesture, as the President also promised to use his discretionary powers to meet the demands of university unions demanding unpaid four-month salaries,” Bayo Onanuga, presidential spokesman, said in a statement.
Reacting to the news, a cross-section of Nigerians described the increase in the minimum wage as “horrible.”
They lamented that the wage increase will not meet the high cost of goods and services in the country.
In a series of comments on X on Thursday, Nigerians mentioned that the high rate of inflation has bastardised the economy; at such a rate, an increase of N70,000 will do little to no good.
Below are some of the reactions by Nigerians:
Maxvayshia: “70,000 Naira as the new minimum wage is horrible, in my opinion. A predictable distraction from the unseriously planned protest was to silence Nigerians.
“The economy has gotten much worse than the N70,000 minimum which solves nothing. Nigerians remain in the same spot. These people are inhumane.”
Collins Opara “Are you kidding me? After all the struggle, all the protests, and all the demands, they settle on 70,000 Naira.
“This is a slap in the face to every hardworking Nigerian. The cost of living is skyrocketing, people are barely getting by, and this is the best they can do?
“Our leaders are completely out of touch with reality. Nigerians deserve better!”
Sir David Onyeama, “VP renovated his residence with N21 billion. The president acquired a new private jet worth millions of dollars.
“An average senator earns nothing less than N30 million in allowances alone. But you’re jubilating over the new minimum wage of 70,000 naira. A cursed and defeated people.”
Chima Echefule said, “The minimum wage cannot buy one bag of rice. The labour leader has eaten corn.”
Ayo Eleniyen, “This isn’t good news if we have to be honest with ourselves. The N70,000 minimum wage can’t beat the current economic situation. Just expect an increase in the price of food, transportation, and all other things very soon. They take back whatever they give us.”
Levi Ebube: “Your tax is public money. Hold your leaders accountable. It is your money. N70,000 as a minimum is nothing in an economy that has been created to frustrate you.”
Sam, “We have a food crisis, a fuel crisis, an employment crisis. The N70,000 minimum wage isn’t good news. When you tender it beside the cost of food, you’ll realise how unreasonable it is.
“A family of three—mother, father, and child will spend at least N13,000 on peppers and tomatoes a month. How about yam, rice, beans, and groundnut oil? How about protein?
“The essence of working is that you don’t have to worry about feeding and upkeep. You should also have enough to save. It’s not good news.”
