“Minimum wage increase not enough, workers poorer than ever” – Oshiomhole laments

Former Edo State Governor Adams Oshiomhole has expressed concerns over wage exploitation in Nigeria, lamenting its impact on national security and economic stability.

Speaking on “National Minimum Wage: Reward System and Productivity in Africa,” he stated that inadequate wages trigger worker dissatisfaction, decreased motivation, and susceptibility to manipulation and radicalization.

Oshiomhole who was speaking at a recent Distinguished Personality Lecture hosted by the National Institute for Security Studies (NISS) in Abuja, warned that the current economic hardship could lead to social unrest.

He further argued that fair wages are essential for boosting productivity and sustaining economic growth.

Additionally, he pointed out how inflation has eroded purchasing power, leaving many workers financially worse off than previous generations, despite nominal increases in minimum wage.

He criticized the persistent gap between the lowest and highest earners in various sectors, which he argued fuels discontent among the working class.

“Significant disparities exist between minimum and maximum wages across sectors, leading to dissatisfaction among workers. The wealthy often benefit from state protection, while the poor struggle.

“The minimum wage is designed to protect vulnerable workers but is often not enforced. Setting minimum wages too high can risk job losses while setting them too low can lead to exploitation.

“Inflation severely impacts purchasing power, making it difficult for workers to maintain a decent standard of living. Historical comparisons show that many workers are poorer now than in the past, despite nominal wage increases,” Oshiomhole said.