On Thursday, July 18, 2024, President Bola Tinubu said that Nigerian workers will now get a new minimum wage of N70,000. This means workers will earn at least this amount every month, and the wage will be reviewed every three years.
Bayo Onanuga, who advises the President on information and strategy, confirmed this news.
President Tinubu shared this update during a meeting with leaders from Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) at his office in Abuja. Important people present were Joe Ajaero (President of NLC), Festus Osifo (President of TUC), and various ministers.
Additionally, Onanuga said President Tinubu will soon address the issue of unpaid salaries for university staff across the country.
This change comes as Nigerians deal with high living costs caused by inflation and other economic problems. Many people worry that the new wage is still not enough to make their lives easier.
What Nigerians are saying
David Onyemaizu
Minimum wage: 70,000 Naira. Exchange rate: 1 dollar = N1,600, which equals $44. A bag of rice costs 76,000 Naira. If a worker’s whole monthly wage goes to buying a bag of rice, how will they pay for other essentials? People should be more concerned about this.
Minimum wage: 70,000 Naira
Exchange rate: 1 dollar = N1,600, which equals $44.
A bag of rice costs 76,000 Naira.
If a worker’s whole monthly wage goes to buying a bag of rice, how will they pay for other essentials?
— Sir David Onyemaizu🦍 (@SirDavidBent) July 18, 2024
Ikuku Nenye ndụ
If you think that 70,000 Naira ($41) is enough for a month’s work, remember that people in the U.S., Canada, and the U.K. earn this amount in an hour, or even less. What government officials earn is much more than this. This amount is too low and should not be accepted!
If you think 70,000 Naira ($41) is enough for a month’s work, remember people in the U.S., Canada, and the U.K. earn this amount per hour. Making this comparison shows how low the wage is.
— 🌴 Ikuku Nenye ndụ ❤️ (@iamauxigen) July 18, 2024
Nasiru Yahaya
Paying 70,000 Naira minimum wage is fair, but most governors won’t pay it. Also, this could make sellers increase their prices because of the new wage.
Paying 70,000 Naira minimum wage is fair. But most governors won’t pay it. And this might make sellers increase prices.
— nasiru yahaya (@NasiruY8923) July 18, 2024
Nwaji Okike Gabriel
Can 70,000 Naira take care of a family of six in today’s Nigeria? Remember, this amount excludes savings and house rent.
Can 70,000 Naira take care of a family of six in today’s Nigeria? Remember, this amount excludes savings and house rent.
— Nwaji Okike Gabriel (@OkikeNwaji) July 18, 2024
Midemide
70,000 Naira minimum wage = $43. The minimum wage in 1981 was $191, and in 2014, it was $125. NLC and TUC, shame on you!
70,000 Naira minimum wage = $43. Minimum wage in 1981 = $191 Minimum wage in 2014 = $125 NLC and TUC, shame on you!
— Midemide (@midemide1) July 18, 2024
Ji-ming
Unless the costs of transport, healthcare, food, housing, electricity, and water go down a lot, the new 70,000 Naira wage won’t help much. Instead, it might cause more corruption and stealing.
Unless the costs of transport, healthcare, food, housing, electricity, and water go down a lot, the new 70,000 Naira wage won’t help much. It might cause more corruption and stealing.
— Ji-ming (@jimtex01) July 18, 2024
Amb Ikechukwu Godwin
The new minimum wage of 70,000 Naira, which is about $43 per month, is still too low. It can’t provide a good life for Nigerian people. This is because of the high inflation and living costs.
The new minimum wage of 70,000 Naira, which is about $43 per month, is still too low. It can’t provide a good life for Nigerian people, because of the high inflation and living costs.
— Amb Ikechukwu Godwin (@aikays_gallery) July 18, 2024
Eke Kevin Ọbúmnẹmẹ
I read that President Bola Ahmed Tinubu has approved 70,000 Naira as the new minimum wage. It’s better than nothing, and it’s better than the previous 33,000 Naira. I hope NLC accepts it for now.