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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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Federal Government Declares Thursday Public Holiday for 2025 Democracy Day

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The Federal Government has announced Thursday as a public holiday in honour of the 2025 Democracy Day celebration. The announcement was made through a statement by the Permanent Secretary of the Ministry of Interior, Mrs. Magdalene Ajani, in Abuja.

According to her, the Minister of Interior, Olubunmi Tunji-Ojo, made the declaration on behalf of the government and used the opportunity to commend Nigerians for sustaining 26 years of uninterrupted democracy. He noted that June 12 stands as a powerful reminder of Nigeria’s journey toward truth, justice, peace, and a promising future.

Tunji-Ojo also stated the determination and resilience of Nigerians over the past two decades and reaffirmed the Tinubu administration’s dedication to upholding democratic values built on the freely expressed will of the people.


 

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WAEC Says English Exam Was Not Cancelled and Warns Against Fake News

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WAEC has debunked rumours that the English Language paper written on May 28 was cancelled. The exam, part of the ongoing WASSCE for school candidates, faced serious delays at several centres across the country. In some places, the paper meant to start by 9 a.m. didn’t begin until late at night, leaving students to write under poor conditions, with many using phone flashlights and torchlights to read their questions.

WAEC explained that it received reports of a possible paper leak and had to act fast to protect the credibility of the exam. But contrary to claims making rounds on social media, the council made it clear the paper was not cancelled. In a statement by Moyosola Adesina, the acting Head of Public Affairs, WAEC said a press release dated May 30 announcing the cancellation was fake and not from the council.

She said WAEC doesn’t know where the false information came from, but suspects it was shared by individuals trying to create panic and damage the council’s image. The Head of WAEC’s National Office, Amos Dangut, also commented on the situation, saying the late-night exams held in some areas were far below the council’s standards.


 

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Tinubu Welcomes Ademola Adeleke and Davido to His Home in Lagos

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President Bola Ahmed Tinubu hosted Osun State Governor, Senator Ademola Adeleke, for a private meeting at his Lagos residence on Monday. The governor was joined by his older brother, prominent businessman Chief Adedeji Adeleke, and his son, the internationally popular Afrobeats star David Adeleke, better known as Davido.

The visit was confirmed by President Tinubu’s Special Assistant on Social Media, Dada Olusegun, who shared the news on X the following day. “President Bola Ahmed Tinubu met with Osun State Governor Ademola Adeleke, accompanied by Chief Adedeji Adeleke and Afrobeats superstar Davido, at his Lagos home,” Olusegun posted.

So far, no details have been shared about the purpose of the meeting, and neither the Presidency nor the Adeleke family has made an official statement. Photos from the gathering have appeared online, offering a rare glimpse into the private talks between the President and the Adeleke family.


 

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