Nigerian workers today are poorer than those from previous generations, according to Comrade Adams Oshiomhole, former governor of Edo State and past president of the Nigeria Labour Congress (NLC).
Oshiomhole made this statement during a lecture at the National Institute of Security Studies in Abuja.
The lecture was organized for members of the Executive Intelligence Management Course 17.
In his speech, Oshiomhole criticized the current minimum wage of N70,000, stating it is far less valuable than wages in the past.
“When converted to dollars, this wage is equivalent to only $42,” he said.
He drew attention to the first minimum wage established under former President Shehu Shagari in 1981.
Oshiomhole noted that the minimum wage of N125 at that time was equivalent to about $160.
This comparison highlights how much wages have depreciated over the years.
“When the minimum wage was set under President Shagari, it was around N125 which was about $160 a month,” Oshiomhole explained.
He continued, “Today, with the 100% increase that labor achieved last year, which is now being implemented, N70,000 equals $42 based on our current exchange rate.”
According to Oshiomhole, this stark difference means that the quality of life for Nigerian workers has significantly decreased.
He argued that even with recent wage increases, workers are still facing financial difficulties.
“The working people are much poorer now than they were so many years ago,” he stated.
Oshiomhole’s comments come at a time when many Nigerians are struggling to make ends meet.
The rising cost of living and inflation has made it challenging for families to afford basic necessities.
He urged the federal government and states with high revenue to consider paying workers more than the current minimum wage.
“There are states generating enough revenue that can afford to pay more than N70,000,” Oshiomhole said.
He emphasized the need for a fairer wage system that reflects the realities of today’s economy.
Oshiomhole also called for amendments to the minimum wage law to include domestic staff and other workers not currently covered.
He noted, “The law in Nigeria states that you need 25 to 50 employees for the minimum wage to apply. However, this is outdated.”
With advancements in technology, smaller companies can generate significant revenue without having a large workforce.
Oshiomhole stressed that the criteria used to define minimum wage applicability should evolve with changing economic conditions.
“The number of employees requirement was suitable when the economy was broad-based, not with the rise of ICT companies,” he explained.
His remarks reflect a growing concern among Nigerians regarding wage fairness and labor rights.
Many workers feel that their efforts are not adequately rewarded in today’s economic climate.
Oshiomhole’s lecture sparked discussions among attendees, many of whom expressed agreement with his views.
One participant stated, “It’s true that we are living in tougher times. Workers deserve better pay.”
Another attendee noted, “The gap between the rich and the poor is widening, and we need to address this issue urgently.”
Oshiomhole’s concerns resonate with many Nigerians who are experiencing the burden of high living costs.
The issue of minimum wage and workers’ rights has become increasingly relevant as Nigeria continues to face economic challenges.
Unemployment rates remain high, and many families rely on multiple sources of income to survive.
While Oshiomhole acknowledged the government’s efforts to raise wages, he insisted that these measures are not enough.
The former NLC president pointed out that the minimum wage must reflect the true cost of living.
He warned that without adjustments, the situation could worsen.
“Unless we act now, the opportunity for workers will continue to depreciate,” he cautioned.
The conversation about wage equity is not new in Nigeria, but it has gained momentum recently.
With growing awareness among workers, calls for change are becoming louder.
The Nigerian government must consider the implications of stagnant wages on workers’ lives.
As Oshiomhole pointed out, the minimum wage is a crucial factor in determining the quality of life for many families.
The situation is exacerbated by the rising inflation that affects every aspect of daily life.
From food prices to transportation, Nigerians are feeling the pinch.
The former labor leader’s remarks challenge the government to take urgent action.
Oshiomhole’s call to amend the law to include more workers could pave the way for broader labor rights in Nigeria.
Such changes could help ensure that all workers receive fair compensation for their efforts.
