Nollywood Actor Kenneth Okonkwo Sparks Debate Over Minimum Wage
Veteran Nollywood actor and politician, Kenneth Okonkwo, has sparked a heated debate in Nigeria by arguing that the former N30,000 minimum wage was of greater value than the current N70,000 minimum wage benchmark. The controversy surrounding the minimum wage increment has left many wondering if the new figure truly reflects the current economic reality.
According to reports, President Bola Tinubu recently assented to the N70,000 minimum wage following an agreement with joint labour unions. However, Okonkwo, who appeared on the ‘Mic On’ podcast, took a different stance, insisting that the increment does not accurately reflect the current economic situation.
Okonkwo pointed out that the exchange rate has significantly changed since the previous minimum wage was introduced. "When we had N500 to a dollar, the minimum wage was $60. Now that the exchange rate is N1,500, it should be about $45 per month," he said. "And see that it’s of less value. So what can they say that they have achieved?"
The actor’s comments have sparked a lively discussion among Nigerians, with some agreeing with his assessment and others dismissing his views as misinformed. The debate highlights the complexities surrounding the minimum wage and the need for a more nuanced understanding of the economic factors at play.
As the debate continues, it remains to be seen whether Okonkwo’s argument will resonate with the public and spark a reevaluation of the minimum wage policy in Nigeria.
