Former Vice President and presidential candidate of the African Democratic Congress, Atiku Abubakar, has urged President Bola Tinubu to urgently increase the national minimum wage, saying the current N70,000 salary has lost significant purchasing power due to the rising costs of petrol, food, transportation and housing.
Atiku made the call in a statement released on Sunday by Phrank Shaibu, Director of Strategic Communications of the ADC Presidential Campaign Council.
He said Nigerian workers were struggling with declining purchasing power despite the increase in the statutory minimum wage, and called on the Federal Government to approve what he described as a meaningful wage adjustment that reflects current living expenses.
The Federal Government increased the minimum wage from N30,000 to N70,000 in July 2024 following negotiations with organised labour. President Tinubu had said at the time that the wage would be reviewed after three years.
However, Atiku said the new wage had not provided sufficient protection for workers against the continued rise in prices.
“At N1,400 a litre, the entire N70,000 monthly minimum wage buys just 50 litres of petrol. What does the worker take home to feed the children? What pays the rent? What gets that worker back to work on Monday?,” the statement read.
He compared the purchasing power of the previous minimum wage with the current figure, noting that when petrol averaged N254.06 per litre nationally in April 2023, N30,000 could buy roughly 118 litres, while N70,000 at N1,400 per litre would cover only about 50 litres.
“The payslip has grown, but the fuel it can buy has more than halved. Tinubu has given workers a larger number and left them with a smaller life. That is hardship dressed up as a wage increase,” he added.
Atiku’s comments come as concerns over petrol prices and the broader cost-of-living crisis continue. Recent reports have indicated that petrol is selling for around N1,400 per litre in Lagos and Abuja, with prices reportedly higher in some northern parts of the country.
The rising cost of fuel has further increased concerns about household expenses and transportation costs.
The statement also faulted the removal of the petrol subsidy, arguing that the policy was introduced without sufficient measures to cushion its impact on working families.
“The government pulled away the floor, offered workers a flimsy umbrella and now applauds itself while the rain beats down on them,” Atiku said.
He explained that the effect of petrol prices goes beyond filling stations, as increased transportation and energy expenses eventually affect the prices of food and other basic necessities.
“Petrol does not stay at the pump. Its price follows the farmer to market, enters the baker’s oven and appears in the fare a parent pays to take a child to school,” he stressed.
Atiku also said Nigeria’s minimum wage compares poorly with those of some other oil-producing African countries when measured using the exchange rates referenced in his statement.
While acknowledging that countries have different wage systems and living costs, he maintained that such differences did not make N70,000 adequate for Nigerian workers dealing with current economic conditions.
He urged Tinubu to clearly state whether his administration intended to approve another wage increase, arguing that workers should not be kept in lengthy negotiations without a clear resolution.
“If he has no intention of raising workers’ pay, he should say so plainly and stop stringing the Nigeria Labour Congress and other labour leaders along. Nigerian workers deserve an answer, not another round of meetings that ends where it began,” he added.
Atiku pledged that if elected in 2027, his administration would commence efforts to increase the minimum wage from its first day in office.
“I will begin the work of raising the wage floor from my first day in office,” Atiku assured.
He also outlined proposed measures to ease the cost of living, including boosting local production, targeted social protection programmes and interventions in the petroleum sector.
According to him, his proposed targeted production subsidy would provide support for petroleum products refined domestically and sold to Nigerians, with spending limits, public disclosure and independent audits attached to the programme.
“Government support must produce measurable relief at the pump,” he said.
The former vice president further advocated measures to stabilise prices of essential commodities and energy, arguing that increasing wages alone would not sufficiently ease household pressures if living costs continued to climb.
The Tinubu administration has previously defended its wage and economic policies, noting that the N70,000 minimum wage was reached following consultations with organised labour and other stakeholders.
At the time the agreement was reached, the government said the new wage was intended to provide immediate relief, while also committing to a review after three years.
Atiku, however, maintained that the purchasing power of Nigerian workers remained the key concern.
“Nigerians do not eat FAAC figures. A full treasury is no answer to an empty kitchen. The test of this government is whether the men and women who work all month can live on what they earn.
“A living wage must buy a living. It is not a privilege; it is a basic right.
“Tinubu has made life painfully expensive. I will make life affordable again,” he added.
