Rep Chinda also emphasized that the minimum wage announced by President Bola Ahmed Tinubu is not commensurate with the economic realities of the nation due to the implosion of the naria.
The recent economic challenges in Nigeria have subjected workers to untold hardship as many employed Nigerians cannot afford the basic necessities of life due to inflation and a high rise in the cost of living.
In reaction to this, the House of Representatives, with the interest of workers in their agenda has heard a motion on the need to provide living wage for workers.
The motion, sponsored by Rep Kingsley Chinda (PDP, Rivers) and 37 other lawmakers, noted that the high cost of goods and services due to inflation has greatly affected the average Nigerian’s ability to afford essential needs.
“The rising rate of inflation in the country has made it difficult for the average Nigerian to afford basic needs such as food, water, housing, education, healthcare, transportation and clothing,” Rep Chinda declared.
He stressed that when the fuel subsidy was removed in May 2023, the federal government offered palliatives to cushion its effects. However, the ameliorative effect of this measure has been overtaken by the continued rise in the cost of goods and services.
Rep Chinda also emphasized that the minimum wage announced by President Bola Ahmed Tinubu is not commensurate with the economic realities of the nation due to the implosion of the naira.
“The minimum wage (in Nigeria) was increased by the president recently, but the purchasing power is low owing to the continued rise in the cost of living in the country and the fall of the Naira,” he added.
The House referred the motion to its Committees on Finance, Labour, Employment and Productivity; and, National Planning and Economic Development to critically look into the matter.