Adams Oshiomhole has asked Bola Tinubu to implement a minimum wage above N70,000, stating that Nigerian workers are now poorer than before due to rising inflation and economic challenges.
Speaking at the Distinguished Personality Lecture organised by the National Institute for Security Studies, NISS, in Abuja yesterday, Oshiomhole highlighted how inadequate wages create a cycle of economic hardship, making workers vulnerable to manipulation and radicalization.
The lecture, titled “National Minimum Wage: Reward System and Productivity in Africa,” was part of the Executive Intelligence Management Course, EIMC 17, aimed at fostering a deeper understanding of the relationship among wages, security and productivity.
Oshiomhole argued that fair wages were essential to boost workers’ motivation, efficiency, and overall economic growth.
He said: “Workers face fluctuating salaries and job insecurity, as employers can easily hire and fire employees.
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“Despite paying union dues, workers often receive minimal support from trade unions, leading to questioning their effectiveness.
He said, “When minimum wage in Nigeria was established under President Shagari, I think around 1981, it was around N125 which was about $160 a month.
“Today, with the fat increase, the 100 per cent increase that the labour achieved last year, which is now being implemented this month, according to our current exchange rate, is $42.
“So if you divide N70,000 by N1,650, it gives you $42. The working people are much, much poorer now than we were so many years ago. So this opportunity will depreciate, and that affects the quality of life and everything.”
Oshiomhole also said the Federal Government and other states generating high revenues should pay workers more than the agreed N70,000 minimum wage
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