Former Vice President and presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has promised to raise the national minimum wage and introduce measures to protect Nigerians from the rising cost of living if elected president in 2027. Atiku's pledge comes as petrol prices reach between N1,400 and N1,500 per litre in parts of the country, exacerbating the financial strain on citizens. He emphasized that his administration would prioritize the welfare of Nigerian workers.
Atiku argued that the recent increase in the minimum wage from N30,000 to N70,000 has failed to restore workers' purchasing power due to the substantial rise in prices of petrol and other basic necessities. He noted that at N1,400 a litre, the entire N70,000 monthly minimum wage buys just 50 litres of petrol, leaving workers struggling to meet their basic needs. Atiku's comments reflect growing concerns about the impact of high petrol prices on household expenses and the overall economy.
The former vice president proposed a targeted production subsidy for petroleum products refined in Nigeria and sold to Nigerians, subject to spending limits, public accounting, and independent auditing. Atiku also challenged President Bola Tinubu to negotiate a substantial wage adjustment that reflects the prevailing cost of living, while taking measures to reduce the prices of essential goods and services. He urged the government to address the underlying drivers of inflation to provide meaningful relief to workers.
Atiku emphasized that increasing workers' pay without addressing the root causes of inflation would provide only limited relief. He insisted that wage policy must be accompanied by measures to boost domestic production and reduce energy costs. Atiku's proposals aim to support Nigerian production, deliver relief at the pump, and provide targeted help to those hit hardest by the cost-of-living crisis.
In a statement issued by Phrank Shaibu, Director of Strategic Communications of the ADC Presidential Campaign Council, Atiku said his policies would protect the people and make life affordable again. He criticized the current administration for making life "painfully expensive" and promised to prioritize the welfare of Nigerian workers. Atiku's pledge has sparked renewed debate about the government's handling of the economy and its impact on citizens.
The ADC presidential candidate also questioned the government's debt profile, citing concerns about the country's revenue and expenditure. Atiku's comments reflect growing concerns about the country's economic management and the need for a more equitable distribution of resources. His proposals have resonated with many Nigerians who are struggling to make ends meet.
Atiku's economic proposals have significant implications for Nigeria's economic policy and could shape the country's future growth trajectory. As the 2027 presidential election approaches, Atiku's pledge to raise the minimum wage and protect Nigerians from the rising cost of living is likely to be a key issue in the campaign. The government's response to Atiku's proposals will be closely watched by citizens and economic analysts alike.
Key points
- Atiku Abubakar promises to raise the national minimum wage and introduce measures to protect Nigerians from the rising cost of living if elected president in 2027.
- The former vice president proposes a targeted production subsidy for petroleum products refined in Nigeria and sold to Nigerians.
- Atiku challenges President Bola Tinubu to negotiate a substantial wage adjustment that reflects the prevailing cost of living.
