- Special Adviser Bayo Onanuga highlights Nigeria’s economic reality, describing it as “undeniably impoverished” compared to exaggerated perceptions of wealth
- Onanuga points out wage disparities, noting Nigeria’s minimum wage of N33,000 ($39) compared to South Africa’s $240 per month
Special Adviser on Information and Strategy to President Bola Tinubu, Bayo Onanuga, has made a striking statement regarding Nigeria’s economic status, labeling it as “a very poor country.”
In an interview with Arise TV’s Prime Time program, Onanuga emphasized that the perception of Nigeria’s wealth is greatly exaggerated by its citizens, citing disparities in minimum wage compared to other African countries.
“Our country is undeniably impoverished. The prevailing notion of our wealth is grossly inflated,” Onanuga remarked.
Illustrating the wage gap, Onanuga pointed out that while South Africa’s minimum wage stands at $240 per month, Nigeria’s N33,000 equates to approximately $39.
“This discrepancy is evident across various sectors. Take, for instance, the earnings of Nigeria’s Chief Justice compared to their South African counterpart; the disparity is staggering,” Onanuga elaborated.
These remarks from Onanuga follow closely after President of the Nigerian Labour Congress (NLC), Joe Ajaero, advocated for a minimum wage of N1 million, citing the urgent need to address Nigeria’s deteriorating economic conditions, particularly impacting workers.
Ajaero underscored the significance of adjusting the minimum wage to accommodate the escalating cost of living and the continuous depreciation of the Naira against foreign currencies.
As debates surrounding wage reforms intensify, Nigeria finds itself grappling with economic challenges that necessitate comprehensive solutions to uplift its workforce and mitigate financial disparities.
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