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Home Business News Business

Minimum Wage: No worker can survive in Nigeria with less than N100,000 monthly – House of Reps

Cyrus Ademola by Cyrus Ademola
March 6, 2024
in Business, Legal & Regulations, Politics, Sectors
House of Reps, cybersecurity levy, CBN
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The House of Representatives has raised alarms over the insufficient minimum wage for workers in the nation, stating that a monthly salary below N100,000 is not livable for any worker in the country.

Rep. Aliyu Madaki of NNPP-Kano State pointed out on Wednesday that the soaring inflation rates in the nation have rendered basic necessities like food, water, shelter, education, healthcare, transportation, and clothing unaffordable for the average Nigerian.

According to him, Nigeria is a participant in the United Nations Universal Declaration of Human Rights.

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He referenced Article 23 of the declaration, which stipulates that every employed person is entitled to a fair and beneficial salary, guaranteeing that they and their families can live with dignity.

  • “Recall when the fuel subsidy was removed in May 2023, the Federal Government offered palliatives to cushion its effects.
  • “However, the ameliorative effect of this measure has been overtaken by the continued rise in the cost of goods and services.
  • “We are aware that wage award was granted by the president recently, but the purchasing power is low, owing to the continued rise in the cost of living in the country and the fall of the naira.
  • “We are also aware that Trade Economics in 2018 reported the living wage for an individual Nigerian and a Nigerian family to be N43,200 per month and N137,600 per month, respectively. This was a pre-subsidy removal report.
  • “Further note that presently, no labourer can live in Nigeria with a wage of less than N100,000.00,” he said.
Recommended reading: Why new minimum wage may be N1 million – Joe Ajaero

What you should know

Workers have had to contend with rising prices of goods and services since the removal of fuel subsidy by the Federal Government, with the attendant inflation and escalating cost of living eaten deep into their pockets and rendering their monthly wages inadequate to meet their basic needs.

  • In June 2023, for instance, workers and some labour leaders demanded that the minimum wage be increased from N30,000 to N250,000, adding that the current situation would increase the demand for a salary review. The amount was later adjusted to N200,000 monthly.
  • Meanwhile, the federal government inaugurated a 37-member tripartite committee on national minimum wage.
  • The committee is tasked with the responsibility of recommending a new national minimum wage for Nigerian workers.
  • The committee, comprising representatives of the federal and state governments, private sector and the organised labour, is to be chaired by Bukar Goni Aji, former head of service of the federation.
Recommended reading: New minimum wage threatened as inflation may get uncontrollable – Economists

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Tags: House of Repminimum wageNigeria economyNigeria Workers
Cyrus Ademola

Cyrus Ademola

  • Cyrus Ademola is an energy and economy analyst with over half a decade experience in journalism, research-based oped, economic reportage and energy analysis. His works have been featured on different media outlets, covering from oil and gas to business trends.

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