Nigerians react to N70,000 minimum wage

 

Nigerians have reacted to the newly approved minimum wage of N70,000 by President Bola Ahmed Tinubu.

This approval is coming after a meeting held with the leadership of Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) at the presidential villa on Thursday.

President Bola Ahmed Tinubu has pledged to revisit the the national minimum wage law every three years.

However, so many Nigerians have responded by appreciating the President for welcoming a new change for Nigerian workers. 

"The N70,000 new minimum wage is a welcome development. The President had summoned courage to increase minimum wage by more than 100percent. It tries to address the present economic realities in our nation." A senior secretary, Mrs. Miriam said.

She added that the increment in the minimum wage may have a ripple effect on the standard of living for Nigerians, along side feeding and cost in transportation.

"It might trigger increase in house rent, transportation, foodstuffs etc. It is, therefore, onus on the Federal Government to ensure it finds a proactive way to address the ripple effect of the new increment so that the common people, especially those who are not recieving salaries are not worst hit.

"In addition, for some of the States that may find it difficult to pay the new minimum wage, the Federal Government should put some measures in place. Such measures may include paying the salaries of such state workers directly from the salary allocation or subvention of such state.

"That means the Federal Government will take audit of such state workers, find out the workers that are really due for retirement and take appropriate measures;

"Political appointees in each State - especially Special Advisers, Personal Assistants, Commissioners - need to be reduced in order to make the payment of the new minimum wage work effectively.

"Concerning Private Sector, the manufacturers the Federal Government should apply import duty- free on raw materials they (the private sector) brings in for the manufacturing of their products.

"Again, Federal or State taxes that are being paid by the private sector need to be reduced drastically or abolished totally.

"Electric power should be made easily available and accessible to the private sector manufacturers at very cheap rate instead of making them depend on diesel, gas, and/or petrol." Mrs. Miriam corroborated. 

Another Nigerian has raised a call for concern by inquiring to know when the new minimum wage will be implemented.

"I think the new minimum wage is long overdue. And I believe this step to be a positive one. But the question remains, when would it be implemented?

"You know how politicians can be, that is, few weeks to end of their tenure, they begin doing one or two promises which ought to have been done since their inception to office. I just hope this is not like that.

"Also, the issue of reviewing every 3 years. My question is, what measures does this government have to sustain this when there's really no means of generating revenue except excess taxation?

"What am I implying? If measures are not put in place to revive the dead economy, and sources of generating revenue through exports are put in place, this policy might not be sustainable or the president will choke thr masses with more taxes." A journalist, Tolulope Oke added.

An Engineer, Frank Onwuka, has pointed out how a minimum wage should be in developed countries. 

"Who will not say it is good if implemented? Although a minimum wage in developed countries should be able to cover all basic needs such as: rent for a single room accommodation for the month, feeding for that month, transportation and clothing."He said.

He continued by saying that the new minimum wage is not good good enough considering the fact that the currency is devalued, adding that the new minimum wage of N70,000 is far much better than what it used to be.