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How N60k Minimum Wage Offered By FG Is Worth Less Than N30k Wage In 2019

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In December 2019, it was widely reported that the Nigerian government had approved a minimum wage of N30,000.

This followed negotiations between the Nigerian government and labour unions.

About five years down the line, there is a dispute between organised labour and the federal government.

While there has been a back and forth on the need to have a new minimum wage, given the economic realities of the country, the exact amount to be pegged as the new minimum wage has been a subject of disagreement between workers in the private, public sector on the one hand and the Nigerian government and private sector decision-makers on the other hand.

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As of the time of filing this report, the Nigerian government’s proposal of N60,000 minimum wage was on the table, but it has been rejected by labour unions.

As a sign of discontent, the workers in the country have downed tools. The Nigeria Labour Congress President, Joe Ajaero and Trade Union Congress President, Festus Osifo, accused the government of being unserious with the negotiations, “leaving the labour with no choice but to initiate industrial action”.

Power and aviation are some of the sectors that have been grounded.

In this report, SaharaReporters delves into this disagreement, examining the proposed N60,000 minimum wage and the current N30,000 minimum wage. The report looks at what can N60,000 buy in current-day Nigeria and what could N30,000 do as of 2019 when it was approved as the new minimum wage.

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Between December 2019, when the new minimum wage was widely reported and April 2024, the prices of basic food items have increased by well over 200%, increasing by over 500% in some cases.

As of December 2019, 1kg of garri cost N159, however, it had jumped to N851 as of April 2024.

A kilogramme of rice sold for N459 in December 2019, but the same quantity sold for a national average of N1,399 in April 2024, based on data from the National Bureau of Statistics.

Other items such as tomatoes, beans and chicken have witnessed significant hikes in prices.

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N30,000 Minimum Wage In 2019 Worth More N60,000 Minimum Wage Proposed In 2024

Based on data from the National Bureau of Statistics, foodwise, N60,000 is currently worth less compared to the N30,000 approved minimum wage of N2019.

Data analysis shows that in December 2019, N30,000 could purchase 188kg of garri but N60,000 as of April 2024, could only purchase 70kg of garri.

N30,000 as of 2019 could purchase 65kg of rice but N60,000 in April 2024, would only purchase 42kg of rice.

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N30,000 in 2019 would buy 100kg of beans, however, N60,000 in April 2024 could only buy 43kg of beans. The proposed N60,000 is only worth 12 kg of chicken while N30,000 was worth N42kg of chicken as of 2019, based on data published by the National Bureau of Statistics.

Nigeria is a highly import-dependent country, usually affected largely by the impact of the dollar to naira rate, especially as the dollar is a globally accepted trading currency.

The exchange rate of dollar to naira as of December 2019 was N359, meaning that N30,000 minimum wage was worth $83, per official exchange published by the CBN.

But as of May 31, 2024, the dollar stood at N1,482 to naira, meaning that N60,000 is worth $40.

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N30,000 Can Cover More Road Trips Than Newly Proposed N60,000 Minimum Wage

SaharaReporters review shows that the average cost for road trips in December 2019, stood at N198, meaning that N30,000 couldcover 151 road trips, based on data on the cost of road transport provided by the National Bureau of Statistics.

As of April 2024, the average cost of a road trip stood at N967, meaning that N60,000 could cover only 62 road trips at the time.

N30,000 In 2019 Would Buy More Litres Of Fuel Than N60,000 Today

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Petroleum is a major item in the Nigerian economy. Many rely on it for electricity, given the poor state of power supply in the country. Others rely on it for transportation.

Petrol is a major lifeline, but it cost more in April 2024, than it did in December 2019.

N30,000 could purchase 206 litres of fuel at N145 per litre in 2019, while the currently proposed N60,000 can only buy 85 litres of fuel.

The ongoing strike action embarked upon by organised labour on Monday has paralysed activities in the country amid sprawling inflation and hunger being experienced by citizens. The Nigerian government has defended its proposal of N60,000, but the Nigerian labour has waved off the argument, calling it “unserious”.

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SEE 20 billionaires supporting Trump and Kamala in the race for The White House

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By Mario Deepromoter

The race for the United States Presidency has reached a fever pitch. As the US presidential election draws close, the financial backing of billionaires has become a defining factor in the campaigns of leading candidates.

Donald Trump, the Republican party candidate and Kamala Harris, who took the baton from President Biden for the Democratic party, continue to rally the support of some of America’s wealthiest, drawing powerful endorsements from influential figures in the country seeking to shape its future.

Elections are run with money, and political parties and their candidates require a lot of it to run successful campaigns. This process is supported by the high and mighty who donate good money towards the government they wish to see in power. These funds cover a range of expenses, including advertising, staffing, travel, and organising events.

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From business partners to friends, acquaintances and wealthy individuals who want to see the tide turn in their favour, here are 20 billionaires supporting Trump and Kamala as the next US President.

Billionaires supporting Donald Trump
1. Elon Musk
Perhaps being Donald Trump’s biggest fan on X, which he now owns, the world’s richest man Elon Musk could also be Trump’s loudest supporter. In July, the founder worth, $250.8 billion announced plans to commit around $45 million a month to a new super political-action committee, called America PAC, backing former President Donald Trump’s presidential run.

2. Linda McMahon
Linda McMahon is the wife of Vince McMahon, the former CEO of WWE. McMahon, who is currently worth $3.1 billion had made up to $16 million in donations to Trump groups to support his election campaign. She chairs the pro-Trump nonprofit America First Policy Institute, serving on the board of Truth Social’s parent company, Trump Media and Technology Group.

3. Diane Hendricks
“I know how hard it is to build a company from nothing,” she said. “And we need a president who understands that too,” Diane Hendricks, called America’s richest self-made woman, said on stage at the Republican National Convention in her home state of Wisconsin last month. Forbes says that the $20.9 billion-worth entrepreneur has already pumped $6 million into groups that support him.

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4. Andrew Beal
American banker and businessman, Andrew Beal gave more than $4 million to Trump committees and other GOP groups in 2020. The $12.2 billion- valued investor is now betting on Trump again, putting $1.8 million behind Trump’s 2024 ticket.

5. Kelcy Warren
Kelcy Warren, the billionaire in energy has been fond of Trump. Warren had given $100,000 to help elect him in 2016, then dropped more than $11 million in 2020. This time around, he has given about $6 million to support Trump’s campaign. Warren’s Energy Transfer is best known for the Dakota Access Pipeline, which Trump helped expedite in one of his first acts in office.

6. Elizabeth Uihlein & Richard Uihlein
Liz and Dick Uihlein are among the Republican party’s most generous donors, giving tens of millions per cycle. The couple have donated $5 million to trump groups according to Forbes. In 2021, the duo celebrated Trump’s “America First” trade policies and called out publicly-held companies for being “too concerned about their stock share price.”

7. Phil Ruffin
Ruffin is a significant Donald Trump donor, as well as his business partner and close friend. His donations to Trump’s PACs and committees have reached $3.3 million so far this cycle, surpassing his combined donations from the last two elections.

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8. Geoffrey Palmer
Geoffrey Palmer is one of the largest apartment developers in Los Angeles, with nearly 13,000 units in the greater L.A. metro area. Palmer is a major financial backer of former president Donald Trump, donating some $16 million to his campaigns and PACs from 2016 to 2022. This year, he’s up to $3 million. The developer is worth $3.1 billion.

9. J.Joe.Ricketts
Ricketts, whose family owns the Chicago Cubs, poured $3 million into a Republican anti-Trump group back in 2016 with his wife. They have given a combined $2 million to Trump groups so far this time around, betting against Kamala.

10. Jimmy John Liautaud
Since Jimmy John sold the majority of his business to a private equity firm, he has gotten more involved in politics, as has his wife Leslie. She backed Trump in 2016 and 2020 and John joined her this year, giving $2.8 million to Trump groups so far.

Billionaires supporting Kamala Harris
1. Mark Cuban
The billionaire Shark Tank star and former principal owner of the Dallas Mavericks is one of the Democrats’ most valuable supporters. Valued at US$5.4 billion according to Forbes, Cuban, who is known to have attended a Joe Biden fundraiser, has retweeted various posts about Harris’ campaign, and signed the “VCs for Kamala” pledge.

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2. Reid Hoffman
LinkedIn co-founder, Reid Hoffman has been a long-time Democratic donor and wasted no time backing Harris after Biden dropped. In January, he poured $2 million into a super political action committee (PAC) for Biden’s campaign. The former CEO, worth $2.5 billion plans to open a fundraiser for Harris and has been reported to push Netflix chairman Reed Hastings to donate US$7 million to a PAC supporting the current Vice President.

3. Vinod Khosla
Vinod Khosla, founder of Khosla Ventures, and OpenAI investor has backed Harris to win the elections in November following the withdrawal of President Biden, who he hosted a fundraiser for in May. Worth $7.2 billion per Forbes, the entrepreneur has donated to Super PACs in support of Harris.

4. Chris Sacca
Chris Sacca made early bets investing in Twitter and Uber through his venture capital firm Lowercase Capital. Now he’s making bets of Kamala Harris to be the next US president after donating to Biden’s campaign before he dropped out. Sacca noted that he and his partner Clay Dumas have “invested millions of dollars and countless hours helping build organisations and companies that we think have the best shot at giving blue candidates an edge in a game that is rigged against them.”

5. Eric Schmidt
Worth $22.5 billion per Forbes, the former CEO of Alphabet has given $1.6 million to Future Forward PAC, a Democratic super PAC, and $1.16 million to the Biden Victory Fund.

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6. Dustin Moskovitz
Moskovitz, who helped to launch Facebook (now Meta Platforms) in 2004, gave up to $929,600 to the Biden Victory Fund before he dropped out of the race. Now, he has directed his attention to Kamala who goes against the same opponent, Trump.

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IG Orders Redeployment Of FCT, Rivers, Delta CPs

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By Mario Deepromoter

The Inspector General of Police, Kayode Egbetokun, has directed the redeployment of the Rivers State Commissioner of Police, Tunji Disu, to FCT command.

The shake-up also affects the Delta State Police Command, with CP Abaniwonda Olufemi being reassigned to the Rivers State Command.

In his place, CP Peter Opara who was recently posted to the FCT command, has been appointed as the new Commissioner of Police for Delta State.

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The Force spokesman, Muyiwa Adejobi, in a statement on Thursday, said the redeployment was to ensure effective policing in the affected states.

He said, “The Inspector-General of Police in an effort to strategically emplace a Police Force well efficient for effective policing, has ordered the immediate redeployment of the Commissioners of Police of Rivers State Command, Delta State Command, and the Federal Capital territory.

“The order covers the redeployment of the CP Rivers State Command, CP Olatunji Disu as the new CP FCT; CP Delta State Command, CP Abaniwonda Olufemi as the new CP Rivers State Command and CP FCT, CP Peter Opara as the new CP Delta State.”

Adejobi also said the IG, in accordance with the approval of the Police Service Commission, has deployed four CPs to Lagos, Abia, Ebonyi, and Akwa-Ibom States.

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He said, “In addition, following the approval of the Police Service Commission, the Inspector-General of Police has also deployed four CPs as Commissioners of Police for Abia, Lagos, Ebonyi, and Akwa-Ibom State Commands.

“The deployment includes the posting of CP Danladi Nda to Abia State Command, CP Olanrewaju Ishola Olawale to Lagos State Command, CP Anthonia Adaku Uche-Anya, FDC to Ebonyi State Command and CP Festus Eribo to Akwa-Ibom State Command.

“The posting of these strategic managers reflects the mission of the Inspector-General of Police to strategically reposition the Police Force and ensure maximum utilization of human resources available to the Force. “

He stated that the IG urged the CPs to be innovative and ensure personnel are diligent in their duties.

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Adejobi said, “The IGP has, however, urged the new CPs of State Commands to ensure diligence in the discharge of their lawful duties and adopt innovations that could mitigate security challenges in their respective areas of responsibility. He further encouraged them to key into the police reform plans, which will help the progress of the Nigeria Police Force and the growth of the country in general.”

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Credible Intel Indicates Tinubu’s Defence Minister Matawalle Involved in Banditry – Zamfara Gov Alleges

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By Kayode Sanni-Arewa

Zamfara State Governor, Dauda Lawal, has made a startling disclosure, alleging Nigeria’s Defence Minister, Bello Matawalle, of involvement in banditry in the North-West region.

Speaking during an interview on TVC’s Politics Tonight on Wednesday night, Lawal cited credible information suggesting that his predecessor, Matawalle, played a significant role in the ongoing security crisis.

From all the information we’re getting, my predecessor was fully involved in some of this banditry issue,” Lawal stated. His comments come as northern Nigeria continues to grapple with relentless bandit attacks, particularly in Zamfara, Kaduna, and Katsina states. This is not the first time such allegations have been raised against Matawalle. In July, notorious bandit leader Kachallah Bello Turji had made similar accusations, claiming that the former Zamfara governor had been supporting terrorism in the region. Turji, in a video statement, maintained that Matawalle was involved in the rising wave of violence, an allegation that stirred significant controversy. However, Matawalle has consistently denied these claims. His media consultant, Deyemi Saka, labelled the accusations as unfounded and baseless, dismissing them as attempts to tarnish the minister’s reputation. Despite this, Turji and now Governor Lawal remain firm in their assertions, keeping the spotlight on Matawalle’s alleged connection to the banditry crisis.

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The accusation against a high-ranking government official comes at a time when northern Nigeria is plagued by severe security challenges, with banditry, kidnapping, and terrorism escalating in various states. The federal government’s response to these claims and the overall situation remains to be seen.

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