Nigeria ranked among worst countries for minimum wage earners/ Buhari

Picodi, an e-commerce firm, has ranked Nigeria among worst countries for minimum wage earners to live in.

The report, which examined 54 nations and released on Tuesday, showed Nigeria recorded the highest year to year increase in the minimum wage as at January 2020, (N26,697).

The reported estimated such increase at 64.8 per cent, when compared to N16,200 received in 2019 to place the country in the top spot of countries that increases its minimum wage annually.

When compared with prices of basic items such as food, the report found minimum wage in Nigeria is so low that it does not cover the costs of even the most basic shopping basket.

The report reads: “At the beginning of 2020, food prices from the list are as follows: Milk (10 liters) — N8,443; Bread (10 loaves, 500 g each) — N3,334; Rice (1.5 kg) — N1,002, Eggs (20) — N809; Cheese (1 kg) — N1,238; Poultry and beef (6 kg) — N8,357; Fruits (6 kg) — N4,588, Vegetables (8 kg) — N4,650.

“The total price of basic food products amounts to N32,421, which is 2.81 per cent more than in the previous year.”

According to the report, hike in food prices take huge toll on minimum wage earners, who, it noted, spend 121.4 per cent of their monthly salary on basic food items alone.

This, the report said, was in contrast to Austria, United Kingdom and Ireland, who have the best ration of food prices to minimum wage with workers only spending 7 per cent of their monthly pay on essential food products.

“Depending on the country, the minimum wage concerns from few to several dozen per cent of the working population. By definition, the minimum wage should protect employees against unduly low earnings,” the report added.


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