Former Vice President and African Democratic Congress presidential candidate Atiku Abubakar has expressed his support for the Nigeria Labour Congress's demand for a substantial increase in the minimum wage. He accused President Bola Tinubu's administration of presiding over a ruthless economic squeeze, where workers' wages have been eroded by inflation. Atiku stated that the current minimum wage of ₦70,000 is inadequate, citing the significant increase in petrol prices and the subsequent rise in the cost of living.
Atiku Abubakar criticized President Tinubu's administration for removing the petrol subsidy without providing adequate protection for working families. He stated that the administration's policies have led to a significant increase in the cost of living, with fuel, transport, food, and rent devouring workers' earnings. Atiku argued that the ₦70,000 minimum wage, which was increased from ₦30,000, has failed to restore workers' purchasing power, citing the example that ₦30,000 could buy 118 liters of petrol in April 2023, but ₦70,000 can only buy 50 liters at the current price of ₦1,400 per liter.
Atiku Abubakar compared Nigeria's minimum wage to those of other oil-producing and African economies, noting that Nigeria's wage floor compares poorly. He cited examples of countries such as Libya, Algeria, Equatorial Guinea, and Gabon, which have higher minimum wages when converted to naira. Atiku argued that the Nigerian worker is the engine of the country's productive life, but is expected to run without fuel, as the current minimum wage is inadequate to sustain a worker's family.
Atiku Abubakar challenged President Tinubu to agree immediately to a substantial minimum-wage increase that reflects the real cost of food, transport, rent, and power. He stated that if the President has no intention of raising workers' pay, he should say so plainly and stop stringing the Nigeria Labour Congress and other labour leaders along. Atiku promised that he would begin the work of raising the wage floor from his first day in office, should he be elected.
Atiku Abubakar outlined his plan to address the cost-of-living crisis, which includes a targeted production subsidy to support petroleum products refined in Nigeria and sold to Nigerians. He stated that government support must produce measurable relief at the pump and that his policies would protect the people, deliver relief at the pump, and provide targeted help to those hit hardest by the cost-of-living crisis.
Atiku Abubakar reaffirmed his commitment to realistic wage adjustments, targeted social protection, and measures to stabilize the cost of essential goods and energy. He stated that Nigerians do not eat FAAC figures, but rather need a living wage that can buy a living. Atiku argued that a living wage is not a privilege, but a basic right, and that President Tinubu has made life painfully expensive, promising to make life affordable again.
Atiku Abubakar's statement was issued by Phrank Shaibu, Director of Strategic Communications of the ADC Presidential Campaign Council. The statement concluded that Atiku's plan aims to repair the damage caused by the current administration's policies and ensure that workers receive a fair wage that can sustain their families. Atiku's commitment to a living wage and targeted social protection has been seen as a major plank of his presidential campaign.
Key points
- Atiku Abubakar supports NLC's demand for a substantial increase in the minimum wage.
- Atiku Abubakar criticizes President Tinubu's administration for failing to protect workers' purchasing power.
- Atiku Abubakar promises to begin the work of raising the wage floor from his first day in office, should he be elected.
