- Gabon Pays About N376,500 As Minimum Wage; Equatorial Guinea Pays About N323,878, Says Report
By Abiola Olawale
The founder of Stanbic IBTC Bank and an investment entrepreneur, Mr Atedo Peterside has pointed out that the Federal Government’s decision to allocate N90 billion for the subsidization of the 2024 Hajj pilgrimage, and the procurement of luxurious SUVs for Legislators amounting to several billions of naira, among other perceived extravagant expenditures, have hindered the Federal government’s ability to negotiate effectively with organized labour.
The founder of the ANAP Foundation said that the government’s spending is creating a misleading perception of the country’s financial stability, thereby poisoning the atmosphere and sending signals of financial buoyancy.
Peterside made this comment while reacting to a report that showed that Gabon pays the sum of N376,500 and Equatorial Guinea pays N323,878 as minimum wage.
The report released by the StatiSense titled, “Minimum Wage Of Top Oil Producing African Countries In Naira”, also revealed that Libya pays N313,440 as minimum wage, while Algeria pays N226,400.
Peterside who took to his official X handle wrote: “The Nigerian minimum wage negotiations were going to be unnecessarily difficult because FG “poisoned” the atmosphere for responsible negotiations by approving a reckless N90bn Hajj Subsidy, Luxury SUVs for Legislators etc thereby creating the false impression that FG was rich”.
The New Diplomat reports that the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have embarked on a nationwide strike over the failure of the Federal government and organized Labour to reach an agreement on a new minimum wage.
