A cross-section of economists and political analysts have expressed disappointment over the newly approved N70,000 minimum wage for Nigerian workers.
In separate interviews with the News Agency of Nigeria (NAN) on Friday in Abakaliki, they described the amount as inadequate considering the current economic situation in the country.
NAN reports that President Bola Tinubu on Thursday approved N70,000 as the minimum wage for civil servants, with a promise to review it every three years.
Mr. Collins Anike, an economist, said that the decision would not meet the demands of workers and the public in general.
“I commend his promise to review the national minimum wage law every three years, but he should have considered what was already discussed to meet the needs of the people,” he said.
Mr. Titus Ezeh, a political analyst, called on the government to review critical sectors of the economy to address inflation, energy tariffs, review policies, and ensure food security.
“There is a need to revisit the hike in energy tariffs, petrol pump prices, and inflation, which is really troubling the masses,” Ezeh said.
Mrs. Regina Agbo, a petty trader, said that the impact of the electricity tariff hike was obstructing the ability of businesses and affecting other sectors of the economy.
“The cost of production and rising prices of goods have caused difficulties in the system,” she said.
It was reported that the organized labour had proposed a N250,000 minimum wage, while the government team and the organized private sector proposed N62,000.
