The National Association of Academic Technologists (NAAT) has proposed a minimum wage of N350,000 for workers in Nigeria.
Mr. Ibeji Nwokoma, President of NAAT, announced this during the association’s 5th National Delegates Conference held on Wednesday in Abuja.
The theme of the conference was “Technology, a recipe for national development and socio-economic growth in the 21st century: The Nigerian quest for a better tomorrow.”
Mr. Nwokoma stated that a monthly wage of no less than N350,000 is necessary for Nigerian workers to cope with current economic challenges.
He noted that although the removal of the fuel subsidy was intended to improve the economy, it has inadvertently placed an additional financial strain on workers.
He stated, “This is coupled with inflationary pressures, particularly in the unbearable food prices, and the volatility of the exchange rate owing to the floating regime adopted by the Central Bank of Nigeria (CBN).”
“Nigeria must transcend the concept of a mere minimum wage to embrace the notion of a living wage, commensurate with the rising cost of living.”
“Comparatively, other African countries have made strides in this regard, recognising the fundamental right of workers to earn wages that afford them dignity and a decent standard of living,”
“On this note, I propose a minimum of N350,000 for the Nigeria worker as monthly wage,”
He criticized the inadequate funding of tertiary institutions, highlighting that it falls short of UNESCO’s recommended allocation of at least 26% of the national budget to education.
Nwokoma expressed disappointment over Nigeria’s consistent failure to meet these expectations.
He pointed out that the result of this underfunding is clearly visible in the deteriorating condition of universities and other tertiary institutions, characterized by insufficient funding and infrastructural decay.
