Why I increased Edo workers’ salary to N70,000, by Obaseki

The Nation Newspaper Why I increased Edo workers’ salary to N70,000, by Obaseki

The governor announced the salary increase while inaugurating the state’s Labour House named after his predecessor and senator representing Edo North, Adams Oshiomhole.

“It would have been nice for there to be a central and cohesive and common approach. We would have expected that by now, there should have been a direction as to what minimum wage will be for workers in Nigeria. We do not know when that will happen. If it happens, fine; and if not, as a state, we would need to do what we need to do.“For us in Edo State, we have decided to move the minimum wage from N40,000 to N70,000, effective from May 1, 2024. I think like a capitalist and not a comrade.

He said: “Let us understand this new minimum wage calculation. In 2011, when the minimum wage was N18,000, the exchange rate was N160/$. So, effectively, workers in Edo State were taking home about $120 as minimum wage. When we increased the minimum wage to N40,000 in 2022, the exchange rate at that time was N450/$. So, effectively, workers were getting about $96.”

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