Should minimum wage be raised in Nigeria?

Why do workers demand to increase their salaries? You will find the answer to this question in the article.

NLC and TUC have appealed to president Buhari to increase national minimum wage three times. They want monthly payments at rate of 56.000 Naira in a month.

minimum wage

Now the minimum wage of Nigerians makes N18.000. Increase in salary by 300 percent would make it N54.000. It N2.000 less than demands NLC, but already 3 times better, which makes a huge leap ahead.

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'I can officially declare that yesterday, on Tuesday, we have suggested federal government to make a new salary for workers. We hope that the statement will be subject to serious consideration. According to the government, the economy strongly lags behind western. However we don't consider it as argument, because according to the law the salary has to change each five years.'

president Buhari

            'The problem has to be seriously studied by federal government and workers shouldn't feel like someone doesn't care for their rights at all.'

NLC declared that the government surely has to create committee for consideration of minimum wage. 'When current minimum wage made approximately N18.000, it was absolutely other exchange rate. At that time the dollar was cost by N110. But now a lot of things have changed, and minimum wage 2016 has to be by all means raised. The purchase power of naira to dollar has been reduced. Therefore there are problems with inflation and consumer ability'.

current minimum wage

The former vice-president of NLC has also declared that N50 thousand should be an equivalent of minimum wage if looking at the currency rates. He added that NLC was also going to make this offer.

'In 1981 the exchange rate made N125 in relation to dollar. Then salary has come to $250 in nominal terms. If to increase it 3 times, then it will reach N50.000'. He has shown the document directed to NLC to achieve salary increase at least to N48.000.

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