South Africa has increased its minimum wage to N126,480, as Nigeria still struggles with the N30K minimum wage demand by workers in the country.
President of South Africa Cyril Ramaphosa who disclosed that the new minimum wage will take full effect from January 1, 2019, added that it would benefit about six million workers that currently earn R3,700 (N97,495).
While one South African Rand exchanges for N26.35, this means that South African workers would be earning N527 per hour: N4,216 per day and N126,480 per month, while their Nigerian colleagues are currently earn N75 per hour, which is N600 per day (at eight working hours per day) and N18,000 per month. However if paid N30,000 as minimum wage, Nigerian workers would be earning N125 per hour or N1,000 per day, which amounts to N30,000 monthly.
While South Africa increased its minimum wage to N126,480, a Global Wage Report 2018/19 released yesterday, also revealed that the world’s wage growth also hit a 10-year low, the last of its kind being in 2007.
On the other hand, the Nigeria Labour Congress (NLC) President Ayuba Wabba said labour would soon meet to draw up a timetable within which government would be expected to conclude work on the new wage.