Current news on minimum wage in nigeria

Here are some current news and updates on the minimum wage in Nigeria:

Latest Development:

• On April 18, 2022, the Nigerian Senate passed the National Minimum Wage (Amendment) Bill, 2022, which seeks to increase the national minimum wage from N30,000 (approximately $77) to N52,000 (approximately $130) per month. The bill is now awaiting presidential assent.
• On April 20, 2022, the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) issued a joint statement calling on President Muhammadu Buhari to sign the bill into law, saying it would help to reduce poverty and improve the standard of living of Nigerian workers.

Background:

• In 2018, the Nigerian government increased the national minimum wage from N18,000 (approximately $45) to N30,000 (approximately $77) per month.
• However, the N30,000 minimum wage has been criticized as being inadequate, with many workers calling for an increase to reflect the rising cost of living in Nigeria.
• In 2020, the NLC and TUC launched a campaign to increase the minimum wage to N65,000 (approximately $165) per month, but the government rejected the demand.

Current Challenges:

• Many Nigerian workers are still earning below the national minimum wage, with some earning as low as N15,000 (approximately $38) per month.
• The country's economy has been struggling in recent years, with high inflation and unemployment rates, making it difficult for workers to make ends meet.
• The COVID-19 pandemic has also exacerbated the economic challenges facing Nigeria, with many workers losing their jobs or experiencing reduced income.

International Comparison:

• Nigeria's minimum wage is one of the lowest in the world, ranking 144th out of 144 countries in terms of minimum wage, according to the International Labour Organization (ILO).
• In comparison, the minimum wage in South Africa is around N1.2 million (approximately $3,000) per month, while in Ghana, it is around N120,000 (approximately $300) per month.

Conclusion:

• The current minimum wage in Nigeria is inadequate and needs to be increased to reflect the rising cost of living and to improve the standard of living of Nigerian workers.
• The passage of the National Minimum Wage (Amendment) Bill, 2022, is a step in the right direction, but it is crucial that the government implements the new minimum wage and ensures that it is enforced across all sectors of the economy.