Nigeria's ₦70,000 Minimum Wage Among Lowest in Africa Despite Largest GDP

Nigeria's ₦70,000 minimum wage, established in 2024 by President Tinubu, is among the lowest in Africa in dollar terms at just $42, despite Africa's largest GDP. Compared to South Africa ($270), Kenya ($120), and Egypt ($140), Nigeria's minimum wage has significantly decreased in real terms from $76.25 in 1981 to $50.87 today.

Labor unions (NLC/TUC) are demanding urgent wage revisions due to high inflation, with some states yet to implement the ₦70,000 rate. The total employer cost for minimum wage workers reaches ₦78,000-₦85,000 monthly (11-21% above the headline salary), including employer pension contributions, NSITF, ITF, and NHIS costs.

Workers across Nigeria, including terror-ravaged Borno State, continue protesting for full implementation and fair wages. As a PR consultant argues, Nigeria must bring its compensation system up to international standards to ensure workers can live with human dignity. Will you support demands for a living wage above ₦70,000 given Nigeria's economic realities?

SOURCE: https://www.premiumtimesng.com/opinion/877007-by-the-sweat-of-thy-brow-by-wole-olaoye.html