After all the long deliberation between the federal government and the organised Labour President Tinubu has finally agreed with the Labour that Nigeria minimum wage will be 70k monthly, so actually my question now is that does the minimum of the 70k involves every sector in the country including normal company workers? Or is it only applicable to government workers?, however the reason why I'm asking this is because Nigeria government can be very confusing at times.
The new minimum wage is applicable to all sectors in Nigeria including the Federal, State, local government and private companies. The past minimum wage before this was passed to law is 30K monthly and many states don’t pay that amount to their workers, in fact I know of a state that still pays less than 20K as minimum wage despite the increment during Buhari’s regime. Maybe the law allows state governments to put their own minimum wage as they want, but I know the federal government after effecting the increment will increase the allocation given to them and that shouldn’t make them have an excuse not to pay but this is that state we still find ourselves in today in Nigeria.
And also lets say it involves all the sectors in the country including private companies how would the federal government make sure those private companies comform to there regulations? Because one of the things I understand about this country is that they are very good in making decisions but maintaining them is always the problem because they don't have a good law enforcement agency.
So what do you guys think about the new development by our president Tinubu?
This is a very good development but will the new minimum wage be okay to compensate for the hardship the country is currently facing is not what I’m sure about. With this new minimum wage and without price regulations, those market people will still add more money to their goods because they believe workers now have more increment in salary which is something the government is suppose to look into. If they’re allowed to set price as they want, it will be as if the new minimum wage is still the same as the previous one because it won’t caution the economic hardship faced by Nigerians. Also, I don’t think the private sectors will pay that amount even if the government as pass it into law, no regulations to make that effective because with the economy hardship faced by all, it’ll make private sectors be at loss if they want to pay workers as the government wants it to be.