Oshiomhole emphasized that when workers are not fairly compensated, it can lead to increased discontent and unrest, which may destabilize the country.
Adams Oshiomhole, the former governor of Edo State has lamented that Nigerian workers are now poorer even with the new minimum wage.
According to him, this inadequate compensation for workers not only undermines their livelihoods but also poses significant risks to national security and economic productivity.
He called for urgent reforms to address wage disparities and ensure that all workers receive fair pay for their contributions.
Speaking at the Distinguished Personality Lecture organized by the National Institute for Security Studies (NISS) in Abuja on Wednesday, he emphasized that inadequate wages perpetuate a cycle of economic hardship, rendering workers susceptible to manipulation and radicalization.
The Senator, representing Edo North District in the National Assembly, said: “Workers face fluctuating salaries and job insecurity, as employers can easily hire and fire employees.
“Despite paying union dues, workers often receive minimal support from trade unions, leading to questioning their effectiveness.
“Historically, the right to organize was suppressed, which limited workers’ ability to negotiate collectively. Industrial sabotage emerged as a form of protest against poor conditions.
“Collective bargaining and the right to strike are essential tools for negotiating fair wages and working conditions. Workers often resort to ‘work to rule’ when rights are restricted.
“Significant disparities exist between minimum and maximum wages across sectors, leading to dissatisfaction among workers. The wealthy often benefit from state protection, while the poor struggle.
“The minimum wage is designed to protect vulnerable workers but is often not enforced. Setting minimum wages too high can risk job losses, while setting them too low can lead to exploitation.
“Inflation severely impacts purchasing power, making it difficult for workers to maintain a decent standard of living. Historical comparisons show that many workers are poorer now than in the past, despite nominal wage increases.
“Comparisons with other African countries reveal that Nigeria’s minimum wage is low. Countries like Seychelles have significantly higher minimum wages, prompting calls for Nigeria to reassess its wage policies.
“Adequate wages are vital for enhancing purchasing power, which drives demand in a market economy. Underpayment leads to a vicious cycle of limited economic growth.
“The private sector generally offers better compensation than the public sector, but job security is often more stable in public employment.
“There is a need to revise economic strategies to foster job creation, improve infrastructure, and reduce inefficiencies within government agencies to combat poverty.”