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Oshiomhole Laments Poverty Stricken Nature of Nigerian Workers Under Tinubu’s Govt
A former President of the Nigeria Labour Congress (NLC), Senator Adams Oshiomhole, has lamented that the present day Nigerian workers are poorer than those who worked for the country in the past.
Oshiomhole, a former Governor of Edo State, also decried the present N70,000 minimum wage, arguing that the celebrated wage when converted to dollars, is equivalent to only $42.
The former labour leader spoke at the National Institute of Security Studies, Abuja, during a distinguished personality lecture organised for members of the Executive Intelligence Management Course 17.
Comparing the first minimum wage in the country under the administration of Shehu Shagari as President, he noted that the N125 minimum wage at that time was equivalent to $160.
The lawmaker, who spoke on the title of the lecture: “National Minimum Wage: Reward system and productivity in Africa”, said: “When minimum wage in Nigeria was established under President Shagari – I think around 1981 – it was around N125, which was about $160 a month.
“Today, with the fat increase – 100% increase that the labour achieved last year, which is now being implemented this month – according to our current exchange rate, is $42.
“So, if you divide N70,000 by N1,650, it gives you $42. So, the working people are much poorer now than we were so many years ago. So, this opportunity will depreciate, and that affects the quality of life and everything.”
He urged the Federal government and other states generating high revenues to pay workers more than the agreed N70,000 minimum wage.
The Senator representing Edo North in the National Assembly also called for the expansion of minimum wage law to domestic staff, among others, through the amendment of the law.
He said: “But again, if you look at the law in Nigeria, which I hope will be able to amend very soon, although the Federal government and the states have agreed on a minimum wage, for example, at N70,000, there are still people who are paying less than that.
“Even under the law, because it says you have to have about 25 to 50 employees minimum for that law to be applicable to a particular enterprise. But with the changing technology, a small ICT company employing 10 people can generate much turnover. So, using the number of employees was appropriate when the economy was more broad-driven not with ICT.”
The campaign team of Olajide Adediran, popularly known as Jandor, has announced that their leader, who is Governorship aspirant, has formally purchased the Expression of Interest and Nomination Forms of the All Progressives Congress ahead of the 2027 general elections in Lagos State.
The development was disclosed in a press statement issued on Wednesday by Gbenga Ogunleye, spokesperson for the Jandor campaign organisation, marking a significant step in Adediran’s bid to contest for the state’s top office.
According to the statement, the move underscores Adediran’s commitment to due process and strict adherence to the party’s internal democratic procedures.
The governorship aspirant also reiterated his alignment with the party’s decision to adopt direct primaries for all elective positions, expressing optimism that the process would enhance grassroots participation, strengthen unity within the party, and promote inclusiveness in the emergence of candidates.
Jandor further reaffirmed his loyalty to the National Leader of the APC and President of Nigeria, Bola Ahmed Tinubu, while also paying tribute to party leaders in Lagos State for their continued guidance and commitment to progressive ideals.
He also extended gratitude to members of the JAGABAN–JANDOR 2027 Movement, young Lagosians, and supporters who contributed financially towards the purchase of the nomination forms, commending their dedication and belief in his leadership capacity.
Jandor assured party members and residents of Lagos State that his governorship ambition is rooted in unity, inclusiveness, and a commitment to sustaining and advancing good governance under the APC platform.
All Progressives Congress (APC) governorship aspirant in Lagos State, Samuel Ajose, has declared that the endorsement of Deputy Governor Obafemi Hamzat as the next governor by Governor Babajide Sanwo-Olu and the Governance Advisory Council (GAC) will not stand.
GAC, regarded as the highest decision-making body of the All Progressives Congress in Lagos State, endorsed Hamzat, as its consensus candidate for the 2027 governorship election.
The decision was reached during a closed-door meeting held at Lagos House, Marina, indicating an early alignment within the ruling party ahead of the next electoral cycle.
Speaking after the session, GAC leader, Tajudeen Olusi, said members unanimously agreed on Hamzat, expressing confidence in his ability to sustain and build on the state’s developmental progress.
Olusi explained that the meeting was convened to deliberate on the party’s forthcoming primaries and assess the governorship position ahead of the 2027 elections.
Speaking about the GAC adoption of Hamzat as Lagos APC consensus 2027 governorship candidate on Arise News on Tuesday, Ajose said that Sanwo-Olu and others are trying to force President Tinubu into making a decision.
“I don’t think our president, Asiwaju Bola Ahmed Tinubu, is giving in to what they are doing.
“What they are just trying to do is to coerce him into taking a decision, and I don’t think that decision will stand.”
The House of Representatives has approved President Bola Tinubu’s request to borrow Five Hundred and Sixteen Million, Three Hundred and Thirty-three Thousand, seven ($516,333,007) US dollars in syndicated financing from Deutsche Bank AG.
The House approved it during the plenary on Tuesday in Abuja after the presentation of a report by the deputy chairman of the House Committee on Aids, Loans, and Debts Management, Abdullahi Rasheed.
The money is expected to fund the construction of sections of the Sokoto–Badagry Super Highway.
President Tinubu wrote to the lawmakers, seeking a $516.3 million loan from Deutsche Bank to support the construction of the road.
The president said the loan, to be sourced from a syndicated financing facility by Deutsche Bank, will fund sections 1, 1A, and 1B of the project, which covers about 120 kilometres.
Tinubu requested a resolution in line with Sections 16 and 21 of the Debt Management Office (Establishment) Act, 2011, to enable the federal government to secure the financing for Sections 1, Phase 1A, and Phase 1B of the project.
The project is a flagship initiative of Tinubu’s Renewed Hope Agenda and is targeted at enhancing national connectivity, improving the movement of goods across key economic corridors, and drastically shrinking travel time.
The 1,000-kilometre project will link Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, connecting Illela to Badagry.
According to him, the financing arrangement will be backed by a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
He said the Federal government will provide counterpart funding of over N265 billion for land acquisition, compensation, and related infrastructure.
The former Lagos governor said the loan is structured for nine years and includes a three-year grace period.
It has an interest rate pegged at the Chicago Mercantile Exchange SOFR plus 5.3 per cent per annum.
Already, the Federal Executive Council has approved the financing plan.
