United States President, Joe Biden, has raised the minimum wage of those working on federal contracts to $15 per hour which is equivalent to N5,700 at the official exchange rate of N379 per dollar.
This means that each worker would be able to go home with $10,950 monthly (N4.2 million).
This comes amid debates in Nigeria over the N30,000 minimum wage per month for workers which is equivalent to $66.
He wrote; “I believe no one should work full time and still live in poverty. That’s why today, I raised the minimum wage to $15 an hour for people working on federal contracts.”
Meanwhile, recall that in 2019, President Muhammadu Buhari forwarded an executive bill to the National Assembly for amendment of the National Minimum Wage Act after prolonged and heated negotiations between the workers, employers and the government.