Not a few Nigerians have felt economically disconcerted and disenfranchised lately as inflation continues to bite really hard and clamps up to an all time high since September 2005 . According to a recent report by the National Bureau of Statistics, in August 2022, the annual inflation rate in Nigeria grew to 20.52 percent from 19.64 percent in the previous month. This is said to have been the highest since September 2005. More so, Food inflation has grown to 23.12 percent from 22.02 percent in July amidst higher prices for staples including rice and bread, and the cost of import has continued to increase due to weakening Naira.
Note also that members of the Academic Staff Union of Universities (ASUU) who have been on strike since February 14, 2022 have decried failure of the federal government to implement the earned academic allowance of public university lecturers and the stagnant remuneration of all public university workers despite the inflationary state of the economy.
The Federal Government through the Minister of Labour and Employment, Dr. Chris Ngige, has on Monday, September 19, 2022 said it was planning to increase the minimum wage from the current 30,000 Naira to adjust to the subsisting economic reality of the nation.
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While addressing members of the Nigeria Labour Congress, NLC at a public presentation of a publication titled, “Contemporary History of Working Class Struggles” on Monday in Abuja, Dr. Chris Ngige made it known that the increment in the minimum wage was necessary due to the current global inflation that has impacted negatively on citizens’ purchasing power. He stated that the 2019 Minimum Wage Act included a new clause for a review which would make it easier for the government.
The minister also made it known that the President Muhammadu Buhari-led government had commenced the wage adjustment with members of the Academic Staff Union of Universities, ASUU.
“The inflation is worldwide, we shall adjust the minimum wage in conformity with what is happening and much more important, the 2019 Minimum Wage Act has a new clause for a review.
“That adjustment has started with the Academic Staff Union of Universities (ASUU), because the stage they are, with their primary employers, the Ministry of Education, is a Collective Bargaining Agreement, CBA, negotiations”.
The minister also cleared misconception that the Federal Government took ASUU to court over the prolonged strike of the union as some people claimed, noting that ASUU was at the stage of Collective Bargaining negotiation with their employers when they embarked on strike.