Many Nigerians were very excited when President Bola Tinubu signed the New Minimum Wage Bill into law after several negotiations with the Nigerian Labour Congress (NLC).
As a matter of fact, for many, particularly the supporters of the All Progressives Congress (APC) and President Tinubu, this move was worth bragging about.
For days, or perhaps weeks, these people used this as a bragging right, taunting supporters of opposition parties.
However, as time went on, the reality of things began to play out, and that was when it became clear that perhaps what they had was an immature celebration.
When we (iBrandtv.com) in some of our previous publications exposed the unseen about this newly approved wage of 70,000 Naira, many may have thought that we were just writing for writing sake.
Well, in as much as we regret to say it, but yes, we told you so.
Tinubu’s Plan For Nigeria’s Economy
Of a truth, Nigerians seem to forget quickly or perhaps, they don’t just pay attention.
You see, a video of Bola Tinubu addressing Nigerians during the 11th Bola Tinubu Colloquium is no longer new to the internet space.
Indeed, Bola Tinubu in that video told Nigerians his plans.
“If we reduce the purchasing power of the people, we can further slow down the economy”, those were the exact words of Tinubu even as the crowd cheered him on.
He continued: “Let’s widen the tax nets, let the nets get bigger and we take in more taxes and that is what we must do”.
Those who think that the economic woes the country is facing is by mistake may need to have a rethink.
The Trick
Now you see, when President Tinubu agreed to pay Labour 70,000 Naira as minimum wage, he knew exactly what he was doing.
Don’t forget, the president even tricked the Organised Labour.
Oh, you don’t remember?
Relax, drag yourself a seat, while we open your eyes to the game called politics.
Before accepting the 70,000 Naira offer, President Bola Tinubu had promised the Organised Labour that fuel price would not increase again.
The unions fell for the trick and accepted the offer.
However, before the New Minimum Wage was signed into law, fuel price was increased about two times leading to a speedy hike in the price of food, transportation and others.
The NLC had even called Tinubu out, accusing the Nigerian leader of betrayal.
Well, as it is often said, that is medicine after death.
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Now, they’ve realised that the 70,000 Naira is not even enough for their monthly transportation to their offices not to talk more of feeding.
Special pity to those who have families or mouths to feed and school fees to pay, in VeryDarkMan’s voice: “They’ll learn the hard way”.
The free fall of the Naira and high cost of importing goods due to the exchange rate has further complicated things for Nigerians.
On the other side of the road is the tax master, waiting for your new wage to land in your account.
You see, your new minimum wage is already not enough before arrival.
