News
Kenneth Okonkwo Claims N30,000 Minimum Wage Was More Valuable Than Current N70,000
Kenneth Okonkwo, the well-known Nollywood actor and politician, has argued that the previous minimum wage of N30,000 was more valuable than the current N70,000 benchmark.
Okonkwo expressed his views during an appearance on the ‘Mic On’ podcast, highlighting his concerns about the real value of wages in the face of significant economic changes.
Fire9ja reports that President Bola Ahmed Tinubu has recently approved a new minimum wage of N70,000 after reaching an agreement with labor unions.
According to Okonkwo, the value of the previous N30,000 minimum wage has depreciated compared to the new N70,000 wage.
He explained that when the N30,000 wage was in place, the exchange rate was approximately N500 to one US dollar.
However, with the current exchange rate soaring to N1,500 to one dollar, the real value of the new N70,000 minimum wage has diminished considerably.
Okonkwo pointed out that while the former minimum wage translated to about $60 per month when the rate was N500 to a dollar, the current wage of N70,000 now equates to approximately $45 per month at the current exchange rate.
This stark difference demonstrates that despite the nominal increase in the minimum wage, its purchasing power has actually decreased due to inflation and currency devaluation.
Okonkwo questioned the effectiveness of the recent wage adjustment, suggesting that it fails to address the real economic challenges faced by workers.
News
FCT Teachers Strike Over Unpaid Arrears
Teachers in FCT government schools have started an indefinite strike over the non-payment of 60% of owed arrears by the Area Councils. This strike follows a 14-day ultimatum from the Nigeria Union of Teachers (NUT) and continues previous actions demanding overdue payments and allowances.
The NUT, led by Abdullahi Shafa, resumed the strike after the councils failed to meet their financial obligations. The strike will persist until the councils address demands for the remaining wage arrears, salary increases, and allowances. Parents are advised to keep their children at home, and teachers are instructed to follow union directives. Efforts to reach officials for comment were unsuccessful.
News
Yul Edochie Declares He and Judy Are the “Most Entertaining Couple on the Internet” with Bold Social Media Post
A hotel guest narrowly avoided a serious accident after the ceiling’s plaster of Paris (POP) in his room collapsed while he was out getting food.
Upon returning, he discovered the damage and realized how close he came to being harmed.
The guest expressed his relief and decided to leave the hotel, saying, “Omo, na so POP for fall for my head. Omo, me, I dey go my house o.”
The incident was recorded on video, showing the extent of the collapse.
News
Yul Edochie Declares Himself and Judy as “Most Entertaining Couple on the Internet
Nollywood actor Yul Edochie recently shared new photos of himself and his second wife, Judy, on social media, proclaiming them as the “Most Entertaining Couple on the Internet.”
The couple, who have faced public scrutiny since their marriage, continue to capture attention with their posts and interactions.
Yul’s latest caption has sparked reactions, adding to the ongoing discussions about their relationship dynamics.
The actor’s post further solidifies their presence as one of the most talked-about couples online.
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