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Nairaland Forum / Nairaland / General / Politics / SA To Increase Its National Minimum Wage To $260, Which Is N130k In Nigeria (438 Views)
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SA To Increase Its National Minimum Wage To $260, Which Is N130k In Nigeria by Nobody: 9:35pm On Feb 09, 2017 |
The South African government has announced
plans to increase its National minimum wage
from $60 to $260, which is about N130,000
when converted to the Naira. According to
Reuters, Deputy President of South Africa, Cyril
Ramaphosa, announced this today after holding
negotiations with some leaders of the labor
unions. He however stated that the new
minimum wage regime would take effect from
May 2018.
"The balance we have sought to strike is
that it must not be too low, so that it
doesn't affect the lowest paid workers,
but not too high that it leads to massive
job losses" Ramaphosa told a news
conference.
Ramaphosa said the national minimum wage,
which equates to 20 rand ($1.50) per hour,
would come into effect in May 2018. Nigeria should follow suit .
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