Former Vice President and presidential candidate of the African Democratic Congress, Atiku Abubakar, has urged President Bola Tinubu to immediately raise the national minimum wage. Atiku argued that the current N70,000 wage has been eroded by rising costs of fuel, food, transportation, and housing. He stated that workers are being forced to cope with a sharp decline in their purchasing power despite the increase in the statutory minimum wage.
The Federal Government raised the minimum wage from N30,000 to N70,000 in July 2024 after negotiations with organised labour. President Tinubu also said at the time that the wage would be reviewed after three years. However, Atiku argued that the increase has failed to adequately protect workers from the effects of rising prices. He compared the purchasing power of the old and current wage levels, citing the example of petrol prices.
Atiku stated that at the April 2023 national average petrol price of N254.06 per litre, the sum of N30,000 could purchase about 118 litres, whereas N70,000 at N1,400 per litre would purchase about 50 litres. He criticised the removal of the petrol subsidy, arguing that the policy was implemented before adequate protection was put in place for working families. Atiku also argued that the impact of petrol prices extends beyond the filling station.
According to Atiku, higher energy and transportation costs feed into the prices of food and other essential commodities. He stressed that petrol prices affect not only the filling station but also the farmer, baker, and parent. Atiku also compared Nigeria's minimum wage with those of other African oil-producing countries, arguing that it compares unfavourably when converted using exchange rates.
Atiku challenged Tinubu to make his position on another wage increase clear, saying workers should not be subjected to prolonged negotiations without a definite outcome. He promised that, if elected in 2027, his administration would begin work on raising the wage floor from its first day in office. Atiku also promised measures aimed at reducing the cost of living, including support for domestic production and targeted social protection.
Atiku proposed a targeted production subsidy to support petroleum products refined in Nigeria and sold to Nigerians, subject to spending limits, public accounting, and independent auditing. He called for measures to stabilise the prices of essential goods and energy, arguing that higher wages alone would not adequately address the pressures facing households if the cost of living continued to rise.
The Tinubu-led government has previously defended its wage and economic measures, saying the N70,000 minimum wage was agreed after consultations with organised labour and other stakeholders. Atiku maintained that the purchasing power of workers remained the central issue, stressing that a living wage must buy a living and is not a privilege but a basic right.
Key points
- Atiku Abubakar urges President Bola Tinubu to raise the national minimum wage.
- The current N70,000 wage has been eroded by rising costs of fuel, food, transportation, and housing.
- Atiku promises to raise the wage floor from his first day in office if elected in 2027.
