Festus Osifo, the President of the Trade Union Congress (TUC), recently expressed concerns about the financial challenges faced by individuals earning a monthly income of N200,000. He highlighted that while this amount was considered substantial in the past, its value has significantly depreciated in the current economic climate.
Osifo shared his views on the topic during an appearance on Channels Television’s Sunrise Daily, where he also discussed the need for government assistance to support those in need.
“Some four to five years ago, N200,000 was considered a significant amount, but today it’s a far cry from its original value,” TUC president 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.”
