- A public affairs analyst, Adigun Muse, has said if the government can effectively tackle insecurity and reduction in the price of premium motor spirit (PMS), “that would help us more”
- Muse, in an interview with Legit.ng, said even if the Bola Tinubu government decides to increase the minimum wage, it is still going to have “an adverse effect” on inflation in the country
- The expert explained that a wage increment to N494,000 would mean there would be more money in circulation in Nigeria and fewer goods, which he said would lead to inflation
Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering public journalism and the economy in Nigeria and worldwide.
Epe, Lagos state – Dr. Adigun Muse, former head of the political science department at the Lagos State University of Education, has said even if the Bola Tinubu government significantly increases the minimum wage, expenses for basic needs will still consume a chunk of the money.
The federal government added a sum of N3,000 to its initially proposed N57,000 minimum wage, making it the sum of N60,000 proposed on Tuesday, May 28, during a meeting of the tripartite committee on minimum wage in Abuja.
Source: Twitter
Organised labour, comprising the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), also went down by N3,000 from its last proposal of N497,000 during the last minimum wage meeting.
According to a source who gave the breakdown at the meeting, the amount proposed by the government did not go down well with labour leaders.
Reacting to the labour’s latest demand (N494,000), Muse said the NLC and TUC are not doing the right thing.
He told Legit.ng:
“Like Albert Einstein said, ‘insanity is doing the same thing over and over again and expecting different results’.
“Labour has been on the increment of labour wages for many years. I don’t think it has solved any of our problems, rather it keeps increasing the level of inflation in the country.
“In my own view, I think the labour union are not prioritising what they need. What they should be hammering on for the government is number one, to provide enough security in the country such that the farmers that are on the farm will have peace of mind to do their job.
“Right now, many of them (farmers) are being chased away from the farm, some of them have been kidnapped, and this has been on a daily basis. This is one of the reasons why we have food shortage and rise in the price of goods in the country.
“So as a union, I think they should be emphasising food security, particularly for the farmers, so that issue of high prices of food items can go down.”
Furthermore, Muse asked the labour union to prioritise challenging the government on adequate provision of electricity.
According to him, “if there is adequate electricity for all of us, you don’t need to go to the filling station to buy fuel at exorbitant prices”.
Read more on minimum wage
Minimum wage: PDP chieftain knocks FG’s proposal
Earlier, Legit.ng reported that Rilwan Olanrewaju, a chieftain of the Peoples Democratic Party (PDP), condemned the N54,000 minimum wage proposed by the Tinubu-led federal government as the new minimum wage.
The PDP chieftain maintained that the government’s proposal is chicken feed compared to what workers are being paid in developed countries whose policies are being copied.
Source: Legit.ng
