₦airaland Forum

‘Voodoo economy’ — Makinde says old N18,000 minimum wage could buy more than current N70,000

Makinde spoke on Friday while addressing civil servants at the government house in Agodi, Ibadan, the Oyo state capital, after returning from his annual leave.

The governor said the old N18,000 minimum wage during the administration of former President Goodluck Jonathan could buy more than the current N70,000.

A month before Makinde was sworn in for his first term as governor of Oyo, the late former President Muhammadu Buhari increased the minimum wage for civil servants from N18,000 to N30,000 per month in April 2019.

Nearly five years later, President Tinubu raised the minimum wage to N70,000 in July 2024 as part of efforts to cushion the impact of the removal of the petrol subsidy.

In August, Taiwo Oyedele, minister of finance and coordinating minister of the economy, said the economic reforms, including the removal of the petrol subsidy, had mobilised N15.8 trillion in resources for the federation between June 2023 and December 2025.

Makinde, however, said the increase in minimum wage had not effectively tackled the economic hardship caused by the removal of the petrol subsidy.

“It’s been a very challenging period, economically. Yes, FAAC has gone up. But when I came in as governor, the first salary bill I signed was N4.5 billion,” he said.

“Today, the salary bill is N18 billion. The minimum wage as of the time I came was N18,000. Today, it is N80,000. But the N18,000 of that time can even buy more than what the current N70,000 can do today.

“That is the kind of voodoo economy that they have handed over to Nigeria.

“So, Nigeria Labour Congress (NLC), we have to sit down. Our people are challenged. That is the reality. The resources are limited.”

In view of the economic situation, the governor said his administration would extend its current wage award to workers across the state for another three months, while transport subsidies would also continue.

‘WHY IS HE SCARED OF HANDING OVER TO THE VICE PRESIDENT’

The governor also criticised Tinubu over what he described as the president’s failure to formally transfer power to Vice-President Kashim Shettima while away from the country.

Makinde compared the situation with his own recent annual vacation, during which he said he handed over to Bayo Lawal, his deputy.

“I went on vacation, but I handed over to my deputy governor. I am running to be the president of Nigeria because I have the capacity,” Makinde said.

“They’re trampling on the constitution of Nigeria. If the president is out of the country, why is he scared of handing over power to the vice-president?

“I went away for one month, but my team was able to carry the responsibility of running the state. So, tell him (Tinubu) to follow the constitution of Nigeria.

“He swore at the Eagle Square to abide by the constitution. If the president is not around, hand over the government to the vice-president. That is the constitution.”

https://www.thecable.ng/voodoo-economy-makinde-says-old-n18000-minimum-wage-could-buy-more-than-current-n70000/

It’s visible to the blind and audible to the deaf.

18,000 Naira in 2012 was approximately $120
70,000 Naira in 2026 is approximately $52.8

They told us PDP years were bad, and say their own is prosperous.

Be the judge.

18 thousand minimum wage would buy you 2 bagsof rice , fill up your Toyota corrolla and you will still have change to carry ashawo

70k Tinubu minimum wage can't buy you a bag of rice , it can't fill your tank and it can't carry ashawo

Facts oooooo!!!

Makinde is now IGBO, IPOB , OBIDIENT for saying the truth.

As a corper a quality bag of rice in time was less than 2k

Sadly this is the reality of the nation as we see it under APC's demonic rule today

Tribalists will tell you that the hardship is your fault. Making excuses for the failures running the country to the ground.

Tata boys will obviously attack him, but that doesn’t erase the facts on the ground.

Makinde simply stated the obvious truth. You can attack the messenger all you want, but the facts remain the facts.

The Chicago criminal and his gang of financial terrorists have made it clear that N1495/Litre of fuel is far much more better than N180/litre of fuel under the dullard Bubu.

If you have 10million naira in your account today u re a broke man

That’s the fact
But some APC data bois won’t accept such

True! My pocket money in the university then that can last me a whole semester. Buhari and Tinubu-led APC govt have really destroyed the purchasing of the naira.

Freshtruth:
If you have 10million naira in your account today u re a broke man

I Dey tell you
I just Dey fear
They will start deducting from our bank accounts next year
We go suffer am

No be lie. What do you expect when fuel is now N1400 from N187 ?

Racoon:
True! My pocket money in the university then that can last me a whole semester.

N3,000 dey do for a week 2005 to 2009 during university level

Then increase your state's minimum wage to 140k, and stop wailing.

No be lie. This government just dey scam us

Everything about tinubu numbers na ponzi scheme

His so called bugger allocation is smaller based on usd figure and purchasing power

His fuel subsidy savings have not been used for anything
Light is bad
Roads are worse
Life is more expensive
Civil servants are begging

Let him rule another 4 years you will eat stone and grass.

When we tell you Nigeria is the only country who's past is better than its future in the whole world, you call us names, are all this thing's not validating our claims?

Freshtruth:
If you have 10million naira in your account today u re a broke man

Tinubunomics gba bi ma gba be voodoonomics

Ppl still say life is better now at 70k, than it was at 18k



St*pid people keep dragging us back as a country.

So...how much minimum wage is seyi makinde paying Oyo State workers.

Is he not a governor?


By this proclaimation one would expect Oyo state workers to be earning 300k as minimum wage.


Politicians will just be gaslighting people and play on their intelligence.

- Tinubu the drug-peddler doesn’t trust Shettima or whatever they call that one.

Yes that's true but can mankinde show us what he has done to improve the lives of his people

World class hospitals
World class infrastructure??
Attracted investors to the state
World class security architecture?
Reduced poverty rate in his state??
All state roads completed to world class standards?
Interest free loans for all farmers in his state?
It's not enough to make reference to the past...
What have you as a governor done to ensure that you make your people have the kind of comfort we had in yester years when minimum wage was 18k

In 2013/2014 that I served in the west
Transport fare from Onitsha to Lagos was between 1800-2500 depending on the vehicle boarded, with my 19800 NYSC allowee, I can travel to and fro Lagos like 4-5 times, today from Lagos to Onitsha is 50K and allowee is 77K, means it can only pay for going once.....


Tinubu only increased the volume of naira not the value, the hype about increase in revenue to Governors is just a hoax and propaganda

slivertongue:
As a corper a quality bag of rice in time was less than 2k

Which year? Make una dey take time in this things now

Is that why you sat on the 50billion naira meant for disaster management?

Truly, the purchasing power of Naira is weak compared to few years back, but you as a governor who has autonomy to a high degree, what exactly did you contribute to the social wellbeing of your state?

No good roads in the state, no water, no security, everywhere is dirty, you sat on local government allocations yet you have the gut to declare for presidency!

This guy deserves to be in prison for at least 8yrs after his time as governor.

Tinubu's Greatest Achievement is The
Unveiling Of The Many idiots We Thought Were intellectuals.

Then increase Oyo minimum wage to 200k.

This guy seems to be forgetting that he is also a governor.

Abi he increase minimum wage to 200k and anyone forbid him?

Anyone that supports APC is truly mentally unstable... in any other part of the world... APC wudnt even last 4 yrs... but see them getting set to make it 16 straight years ... and u say some black men aren't mentally unstable.. those supporting them are the people pulling us backwards

Tinubu should have used the savings from the fuel subsidy removal to lower the exchange,