Former Vice President Atiku Abubakar has backed calls for an increase in Nigeria’s minimum wage. He argues that the current N70000 minimum wage has failed to restore workers’ purchasing power amid rising living costs.
According to Leadership, Atiku said Nigerians may be earning a higher figure on paper. However, they are able to afford less because of increases in petrol, transportation, food and housing costs, making the N70000 minimum wage insufficient for most households.
The African Democratic Congress presidential candidate used the cost of petrol to illustrate the decline in workers’ purchasing power.
“At N1,400 a litre, the entire N70000 monthly minimum wage buys just 50 litres of petrol,” Atiku said.
“What does the worker take home to feed the children? What pays the rent? What gets that worker back to work on Monday?”
Atiku compares old, current minimum wage
Atiku said Nigeria’s N30,000 minimum wage could purchase about 118 litres of petrol. This was when the national average price stood at N254.06 per litre in April 2023.
He argued that although the minimum wage later increased to N70000, the quantity of petrol it could purchase had fallen significantly. The challenge of getting by on the N70000 minimum wage is more apparent when comparing today’s costs with previous years.
“The payslip has grown, but the fuel it can buy has more than halved,” he said.
Atiku maintained that petrol costs also affect the prices of transportation, agricultural produce and other essential goods.
He called on President Bola Tinubu to agree to a substantial adjustment. This adjustment should reflect the present cost of food, transport, accommodation and electricity.
Atiku promises wage review if elected
The former vice president also pledged to begin work on raising the N70000 minimum wage if elected president in 2027.
He said any wage increase should be accompanied by measures to lower living costs and boost domestic production.
“A living wage must buy a living. It is not a privilege; it is a basic right,” Atiku said.
He maintained that government economic performance should ultimately be measured by whether working Nigerians can meet their basic needs with their earnings.
