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Nigerian actor-politician Kenneth Okonkwo claims the old N30,000 minimum wage had more value than the current N70,000, citing exchange rate changes.
Nigerian actor and politician, Kenneth Okonkwo, argues that the former N30,000 minimum wage held more value than the current N70,000.
He cites the N500-to-a-dollar exchange rate at the time compared to the current N1,500, suggesting the old wage was equivalent to $60.
Okonkwo believes the recent increment does not reflect current economic conditions.
The Nigeria Labour Congress is threatening legal action against states refusing to pay the new wage.
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El actor político nigeriano Kenneth Okonkwo afirma que el antiguo salario mínimo N30,000 tenía más valor que el actual N70,000, citando cambios en el tipo de cambio.