Just In: Trump's Govt Reacts to Tinubu's Approved N70, 000 as Minimum Wage
- The US government expressed concern that Nigeria’s new N70,000 minimum wage was insufficient to lift citizens from poverty amid worsening economic conditions
- The report highlighted that weak enforcement, limited coverage, and a depreciating naira undermined the effectiveness of the 2024 minimum wage law
- It noted that millions of informal sector workers remained vulnerable, while ongoing economic reforms further increased inflation and the cost of living
The United States government has expressed concern over the sustainability of Nigeria’s recently approved national minimum wage of N70,000.
Washington warned that the new benchmark is insufficient to lift citizens out of poverty amid Nigeria’s worsening economic conditions.
Source: UGC
This was contained in its 2024 Country Reports on Human Rights Practices, released on Tuesday, August 12.
US compares exchange rate with Nigeria minimum wage
At the current exchange rate of over N1,500 to the dollar, the N70,000 wage is valued at roughly $47.90 per month.
The US report highlighted that the continued depreciation of the naira has severely eroded the real value of the minimum wage.
US to Tinubu: Weak enforcement undermines legislation
The report noted that while the National Minimum Wage (Amendment) Act 2024 doubled the previous wage level, enforcement across the country remains weak.
Several states have reportedly refused to implement the law, citing financial constraints, The Cable reported.
“Many employers had fewer than 25 employees, so most workers were not covered,” the report said.
It further stressed that the legislation applies only to firms with 25 or more full-time staff.
Seasonal agricultural workers, part-time employees, and those on commission-based contracts are also excluded from the law’s provisions.
US: Informal sector workers remain vulnerable
Source: Getty Images
According to the US assessment, between 70 and 80 per cent of Nigeria’s workforce operates within the informal economy, where wage, hour, and occupational safety laws are largely unenforced.
The report also highlighted that the number of labour inspectors in the country is grossly inadequate, leaving millions of workers vulnerable to exploitation.
Economic reforms heighten pressures
The assessment comes as Nigeria undertakes sweeping economic reforms, including the removal of fuel subsidies and unification of exchange rates, policies that have triggered sharp inflationary pressures and worsened the cost of living for ordinary Nigerians, Daily Trust reported.
“The new minimum wage is a step in the right direction, but without stronger enforcement and broader coverage, millions of Nigerian workers will continue to face economic hardship,” the report concluded.
US arrests woman who vowed to 'sacrifically' kill Trump
Previously, Legit.ng reported that a 50-year-old woman has been charged with making violent threats against President Donald Trump, after she vowed on social media to “sacrificially kill” him.
Nathalie Rose Jones, from Lafayette, Indiana, was arrested on Saturday in Washington, DC, where prosecutors said she had travelled with the intention of “eliminating” Trump if given the opportunity.
Prosecutors said the threats were monitored by the Secret Service, which had been tracking Jones’s online activity since early August.
Source: Legit.ng
