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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 Clarifies Position on Proposed Tax Recommendations

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The federal government reacted to claims stating that the new tax rules will be imposed on telecommunications and petroleum products for Nigerians.

The FG released a statement to explain the process and stated that there is no intention to place taxes on telecom and petroleum products and services.

“Those recommendations do not amount to government policy and are not binding on Nigeria. Decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities.”


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Peter Obi Raises Concerns Over Nigeria’s Hunger Index Ranking

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Nigerian politician Peter Obi speaks on the increase in the cost of living in Nigeria and shared how more Nigerians are now hungry and the hunger crisis is increasing in the country.

He stated, “Despite three years of Tinubu’s food emergency, Nigeria’s hunger ranking index declined to among the worst nations globally.”

“Yet the outcome of this has been the opposite. Nigeria’s hunger index has worsened significantly. Nigeria’s hunger index ranking was 103rd out of 123 countries surveyed in 2022/2023, and this figure has since worsened to 115th out of 123 countries surveyed in 2025/2026.”


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U.S. Government Warns Influencers Ahead of 2026 FIFA World Cup

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The U.S. government has released a warning to social media influencers who will be coming to watch the 2026 FIFA World Cup.

The government placed a rule on creating content to make money while using a tourist visa and stated that it could lead to deportation back to their country.

It can be noted that the World Cup will be hosted in the United States, Canada, and Mexico.

“People who enter the United States under a visitor program and receive income from a U.S. source would be violating the conditions of their admission status.”


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