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Kenneth Okonkwo Claims N30,000 Minimum Wage Was More Valuable Than Current N70,000

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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.

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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.


 

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Tinubu Visits Maiduguri After Devastating Flood

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President Ahmed Bola Tinubu has arrived in Maiduguri to extend his sympathies to the government and people of Borno State following the devastating flood caused by the Alau Dam.

According to reports, the president touched down in Maiduguri at approximately 3:15 pm, where he was welcomed by Governor Babagana Zulum.

The flood, which struck earlier in the week, submerged large portions of Maiduguri, resulting in significant loss of life and widespread destruction of properties.

During his visit, President Tinubu is expected to pay a courtesy visit to the Shehu of Borno, Abubakar Umar-Garbai El-Kaneni.

From there, he plans to visit one of the camps set up to house those displaced by the disaster and offer support to the affected communities.

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The flood has caused extensive damage across the state, leading the Borno government to establish 36 camps to accommodate the thousands of displaced individuals.

The president’s visit is seen as a significant gesture of solidarity, as efforts continue to provide relief to those impacted by the calamity.

The flood’s aftermath has been devastating, with residents struggling to recover from the destruction of homes and essential infrastructure.

Government agencies and humanitarian organizations have been working around the clock to provide relief, but the challenges remain overwhelming.

Many are hopeful that the president’s visit will not only bring much-needed aid but also shine a light on the urgent need for long-term solutions to prevent similar disasters in the future.

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In the coming days, authorities will likely focus on rehabilitating displaced persons and reconstructing damaged areas.


 

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President Tinubu Visits Maiduguri to Offer Condolences After Devastating Floods

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President Bola Tinubu has arrived in Maiduguri to extend his condolences to the government and people of Borno State following severe floods. The disaster has caused widespread damage, affecting homes, hospitals, markets, schools, and other public facilities. Tinubu’s visit demonstrates the government’s commitment to supporting the region during this challenging time as efforts to provide relief and rebuild the affected areas continue.


 

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First Lady Oluremi Tinubu Calls for Unity and Peace in Eid-el-Maulud Message

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Nigeria’s First Lady, Oluremi Tinubu, has extended warm wishes to the Muslim community in celebration of Eid-el-Maulud, a significant event that marks the birth of the Holy Prophet Muhammad (SAW).

In her message issued from Abuja on Monday, Tinubu encouraged Muslims to reflect deeply on the Prophet’s teachings of love, kindness, and tolerance.

She highlighted how these values can help forge a more cohesive and harmonious society.

“As we come together to celebrate this year’s Maulud Nabiyy, we are reminded of the enduring principles of peace, compassion, and unity that the Prophet Muhammad embodied throughout his life,” Tinubu said.

The First Lady’s message was a call to embrace these ideals, suggesting that they are crucial for building stronger communities and a more united nation.

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She expressed her hope that the blessings of this sacred occasion would bring joy and tranquillity to both homes and the country at large.


 

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