Friday, June 9, 2023

Nigeria has lowest minimum wage worldwide: Report

Nigeria has the lowest minimum wage in the world, says a recent report by Picodi, a global e-commerce company.

• March 28, 2023
Workers in Nigeria
Workers in Nigeria

Nigeria has the lowest minimum wage in the world, says a recent report by Picodi, a global e-commerce company.

The report, which examined the minimum wages received by workers in 67 countries on six continents (Asia, Africa, North, and South America, Europe, and Asia) as of January 2023, revealed that Nigerian workers received the lowest minimum wages, with the lowest earners in the nation receiving a take-home pay of $68. 

India was the third-lowest paying country, with a monthly minimum wage of $95.

Compared to the current prices of food items in the nation, the report detailed that basic food sufficient to meet the minimum nutrient requirements was worth 160.4 per cent of Nigeria’s minimum wage. 

This means that the lowest-paid workers’ wages increased more slowly than the cost of food, and the minimum wage is insufficient to get workers needed food items for healthy living.

With a monthly minimum wage of $2,140, Luxembourg tops the list of nations with the highest minimum wage, followed by Australia ($2,020) and New Zealand ($1,866).

Other countries with low minimum wages, besides Uzbekistan, Nigeria, and India, include Pakistan ($111), Kazakhstan ($131), Armenia ($138) the Philippines ($141), Ukraine ($146), Vietnam ($162), Indonesia ($173), Moldova ($180), Azerbaijan ($186) and Thailand ($195).

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