Former Vice President and presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has urged President Bola Ahmed Tinubu to swiftly increase the country's minimum wage. Atiku stated that the current wage of N70,000 can no longer cope with the rising cost of living. He cited the example of fuel prices, which have risen to N1,400 per liter, rendering the current wage insufficient.
According to Atiku, with the current wage, an individual can only buy 50 liters of fuel per month, compared to 118 liters in 2023 when the minimum wage was N30,000. The Federal Government had approved an increase in the minimum wage to N70,000 in July 2024, following negotiations with labor unions, with a promise to review it after three years. However, Atiku emphasized that the current economic challenges facing Nigerians, including high food prices, rent, electricity, and transportation costs, require more urgent action.
Atiku challenged President Tinubu to publicly declare his stance on further increasing the minimum wage, rather than engaging in prolonged discussions with labor leaders. He also noted that Nigeria's minimum wage lags behind that of other oil-rich African countries, such as Algeria and Gabon. Atiku stressed that the current wage is no longer sufficient to support the well-being of Nigerian workers.
The former Vice President highlighted the need for a more comprehensive approach to address the country's economic challenges. He emphasized that his proposed increase in the minimum wage would be accompanied by a special support system for domestic refining of petroleum products to mitigate the impact of rising living costs on citizens.
Atiku's call for a wage increase comes as many Nigerians continue to struggle with the rising cost of living. The country's inflation rate has been on the rise, driven by factors such as the removal of fuel subsidies and the depreciation of the naira. Atiku's proposal aims to provide relief to workers and alleviate poverty.
In his statement, Atiku also promised to prioritize the increase in the minimum wage if elected president in 2027. He vowed to implement the increase on his first day in office, alongside other measures aimed at reducing the suffering of Nigerians.
Atiku's ADC party has been actively campaigning for an increase in the minimum wage, citing the need to improve the standard of living for Nigerian workers. The party's efforts have gained traction, with many Nigerians calling for a review of the current wage structure.
Key points
- Atiku Abubakar urges President Tinubu to increase Nigeria's minimum wage due to rising living costs.
- The current minimum wage of N70,000 is insufficient to cope with the rising cost of living in Nigeria.
- Atiku promises to increase the minimum wage on his first day in office if elected president in 2027.
