- Nigerians have been grappling with high inflation on the back of the naira devaluation, rising petrol prices, and prevailing insecurity that has led to a decline in agricultural output.
President of the Trade Union Congress (TUC), Festus Osifo, has said that individuals earning N200,000 monthly may struggle to make ends meet.
Osifo noted that N200,000 was a substantial amount a few years ago but has since lost its value due to current economic conditions.
The TUC President made this statement on Channels Television’s Sunrise Daily, discussing government support for the underprivileged.
“Some four to five years ago, N200,000 was considered a significant amount, but today it’s a far cry from its original value,” Osifo said.
“That’s why we believe people earning this amount are facing difficulties,” he added.
Osifo also stated, “Someone earning N2,500,000 annually is relatively poor. With N208,000 monthly, half may go to transportation, leaving little for housing and clothing.”