By Hafsat Bello Bahara
The Gidan Yanci Fellowship, a social advocacy group based in Kano, has proposed reducing executive salaries to fund the proposed minimum wage increase amidst growing economic hardships in Nigeria.
In a statement distributed by the fellowship, they suggest reallocating excessive salaries and allowances of government officials to demonstrate solidarity with the people and promote a more equitable distribution of resources.
“The well-being of all Nigerians must be prioritized,” the fellowship urged. “Reallocating funds from excessive executive allowances to support a higher minimum wage is a viable solution. Furthermore, adopting efficient budget management and increasing transparency are essential steps towards achieving this goal.”
“The economic situation in Nigeria is becoming increasingly severe. The cost of living continues to rise, placing a significant strain on households, while essential commodities like food, housing, and healthcare become less affordable. This situation is further compounded by the substantial salaries and allowances enjoyed by high-ranking government officials, creating a stark disparity between the wealthy and the struggling.” The statement reads.
The fellowship also recommends improving tax collection methods, conducting comprehensive audits of government spending, fostering public-private partnerships, and ensuring transparency and accountability in government spending as a viable option of cutting cost of governance and resuscitating the economy of the country.
This proposal comes amid the Nigerian Governors Forum’s recent opposition to the N60,000 minimum wage increase, claiming it is unsustainable.
The Nigerian Labour Union had suspended its strike to provide an avenue for discussion between the Congress and the government. However, tensions remain high as the labour Congress stands by its N250,000 proposal, while the government insists on N62,000. It is likely that industrial action might continue if a resolution is not reached soon.
The Gidan Yanci Fellowship’s proposal seeks to bridge the gap and provide a solution that addresses both economic equity and social stability, urging the Tinubu administration to take decisive action to mitigate the economic challenges facing Nigerians.
