The presidential candidate of the Young Progressives Party (YPP), Professor Kingsley Moghalu, has said Nigerian workers need a higher minimum wage that is sustainable.
Moghalu who spoke at a public forum in Lagos, said he would give priority attention to the issue of workers and quickly facilitate agreement on a new minimum wage, if he is elected President in 2019.
He said, “The current minimum wage of N18,000.00 per month is a poverty wage.
“At the prevailing exchange rate in the parallel market, which is the most accessible forex market for most Nigerians, our fellow citizens who receive the current minimum wage are living on $1.67 per day.
“This is tragic, and it indicates one of the things that government must do to reduce extreme poverty in the country. The global benchmark for extreme poverty is living on $1.90, or less, per day.”
Moghalu pointed out that he has been monitoring the protracted negotiations for a new minimum wage between President Muhammadu Buhari administration and the labour leaders, saying a token increase will not do, and neither would a decision that is inspired by populist political promises that are not implementable or sustainable.
“I will bring insight and expertise in economic management to lead a quick review and decision on the minimum wage,” Moghalu said.
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