Labour Party hints at increasing minimum wage to N80,000-N100,000

The Labour Party has said it would implement a minimum wage of N80,000 to N100,000 if the party’s presidential candidate, Peter Obi, wins the 2023 election.

Recall that the Labour Party had, a few days ago, unveiled its manifesto after a long wait with its candidate Peter Obi touting the payment of hourly wages against the current monthly format in the country.

Speaking on Channels Television’s Sunrise Daily on Thursday, the party’s Deputy National Chairman, Ayo Olorufemi, stated that LP is looking at implementing a new minimum wage of between N80,000 to N100,000 as against the current N30,000.

He said, “It depends on the nature of the job that would be given out. For instance, when you take a cursory look at the manual labour out there, a labourer does not take less than N2,500-N3,000 per day, which is still not okay as far as the reward system is concerned.

“If you divide N3,000 by six hours, you will be talking about N500 per hour.”

“So, when you benchmark that against what we have now, certainly, you would be talking of something within the range of N500-N1,000 per hour depending on the nature of work, and at the end of the day, someone can effectively say that he can make up to N4,000 in a day.

“And when you multiply N4,000 in a day by 20 or 25, we are talking about N80,000 or N100,000 in a month.”