Senator Adams Oshiomhole, representing Edo North Senatorial District, delivered a stark assessment of the economic situation facing Nigeria’s workforce on Wednesday. Speaking at a lecture for the Executive Intelligence Management Course 17 at the National Institute of Security Studies in Abuja, Oshiomhole emphasized that today’s workers are significantly poorer than those of previous generations.
Oshiomhole highlighted the current minimum wage of N70,000, equating it to a mere $42 when converted to dollars. He remarked, “When minimum wage in Nigeria was established under President Shagari, I think around 1981, it was around N125 which was about $160 a month.” His comparison illustrates a troubling decline in the real purchasing power of wages over the decades.
The senator noted that despite a recent 100 percent increase in minimum wage, the impact is minimal when viewed against current exchange rates. “So if you divide N70,000 by N1,650, it gives you $42. The working people are much, much poorer now than we were so many years ago,” he said, underscoring the erosion of quality of life for workers.
Oshiomhole called on both the Federal Government and states generating significant revenue to offer more than the N70,000 minimum wage. He recounted a previous struggle during his tenure as the Nigeria Labour Congress (NLC) president, where he pushed for higher wages in Lagos State. “A serious employer of labour should not pay minimum wage. They should pay much more,” he stated.
Reflecting on his efforts to increase wages, Oshiomhole recalled his interactions with Bola Tinubu, then the governor of Lagos. “I had to compel him. We organised strikes against this president, asking that he should use all the money necessary to pay salary,” he said, emphasizing the necessity of advocating for workers’ rights over sympathizing with employers.
The senator also advocated for an expansion of the minimum wage law to include domestic staff and other workers. He pointed out that the current law allows exemptions based on company size, which may not reflect the modern economic landscape. “With the changing technology, a small ICT company employing 10 people can generate so much turnover,” he explained.
Oshiomhole further illustrated how wage disparities between Nigeria and countries like the United States contribute to the “Japa syndrome,” where Nigerians seek better opportunities abroad. He cited California’s minimum wage, stating, “If you check with Google, you’ll find that California minimum wage as of today is $16 an hour,” translating to a substantial monthly income for unskilled laborers.
Expressing hope for Nigeria’s future, Oshiomhole acknowledged the current economic challenges but urged a careful review of governmental policies. “Today, we are going through a challenging period, but as we say, tough times don’t last, tough people do. Nigerians are tough. This time will pass, and prosperity will be here again,” he concluded, advocating for a focus on sustainable economic growth.
