Obaseki had announced a N70,000 minimum wage, an increase from the N40,000 paid previously by his government.

Edo State Governor, Godwin Obaseki

Governor Godwin Obaseki of Edo State announced an increase in the minimum wage from N40,000 to N70,000 to better match the current economic conditions in Nigeria. He explained that the value of the naira has been falling and the cost of living rising, making it necessary to raise the minimum wage for state workers.

Back in 2011, when the minimum wage was N18,000, the exchange rate was N160 per dollar, so workers in Edo State earned about $120 monthly. In 2022, the minimum wage increased to N40,000, but with an exchange rate of N450 per dollar, workers effectively earned around $96. Now, with the new minimum wage, Obaseki aims to ensure that workers are paid well enough to stay motivated and productive

The governor also noted that the removal of the fuel subsidy and the floating of the naira have led to significant increases in living costs. The new minimum wage is intended to help workers cope with these changes and maintain their standard of living.