Socialist Labour, Oyo State Chapter, has thrown its weight behind the Federal Workers Forum’s demand for a N300,000 minimum wage, arguing that the existing N70,000 wage is no longer sufficient to meet workers’ basic needs.

In a statement issued in Ibadan on Wednesday and signed by Comrade Ogundele Ayodele, the group condemned opposition to the wage demand by the Organised Private Sector (OPS), particularly the Manufacturers Association of Nigeria (MAN), Lagos Chamber of Commerce and Industry (LCCI) and other employers’ groups.

Socialist Labour argued that workers should not be made to bear the burden of rising production costs, accusing employers of routinely transferring increased costs to consumers through higher prices while resisting corresponding wage adjustments for employees.

The group said the argument that higher wages would threaten businesses or worsen economic conditions unfairly portrayed workers’ legitimate demands as a danger to the economy, despite the rising cost of goods and services.

It maintained that the gap between workers’ earnings and the cost of living had become too wide to sustain households on the current minimum wage, insisting that the N300,000 demand should be treated as an issue of workers’ survival rather than an excessive claim.

The Oyo State chapter therefore urged greater attention to the purchasing power of workers, arguing that any meaningful wage policy must reflect prevailing economic realities and the cost of basic necessities.

Socialist Labour’s position comes amid renewed debate over workers’ earnings and the ability of the N70,000 minimum wage to cope with Nigeria’s cost-of-living pressures, with the group insisting that the government and employers must prioritise workers’ welfare in determining future wage levels.