Dr. Ayo Olorunfemi, the Labour Party (LP) candidate in the upcoming Ondo State gubernatorial election on November 16, has committed to implementing a minimum wage of N120,000 for workers if elected. He made this announcement on Tuesday, emphasizing the link between adequate compensation and employee productivity.
During his speech, Olorunfemi highlighted that his previous campaign in 2023 had promised an N80,000 minimum wage. However, he acknowledged the economic changes since then and stressed the need to adjust the minimum wage to N120,000 to match the rising cost of living. He stated, “As at 2023 when we were campaigning, we assured our people that LP would be paying a minimum of N80,000 minimum wage in Ondo; that was before the economy got to where it is today.”
Olorunfemi believes that the state’s financial resources can support this new wage structure and that such an increase would significantly motivate workers. He said, “With the situation in the market now, looking at the cost of living, if this state is put under our control, we shall not pay anything less than N120,000 as minimum wage. That is the minimum we can pay and we believe we will be able to afford it.”
He also emphasized the importance of enhancing worker productivity to boost the state’s internally generated revenue. “We want our workers to be productive so that more wealth can come to the state,” he added. According to Olorunfemi, his administration would focus on engaging more workers and providing them with the motivation needed to improve their performance.
In addition to his wage plans, Olorunfemi outlined his vision for economic development in Ondo State. He proposed the construction of a dry port to alleviate traffic congestion in Lagos and stimulate local business growth. “When we take over as LP, the first agenda is to make sure there is a port in Ondo State to boost business and the economy,” he declared.
He mentioned collaborating with the Alana International Market Association in Lagos to develop the dry port, aiming to ease the load on Alaba International Market. “We are going to work on how to have our own dry port to decongest Alaba International Market in Lagos,” he noted.
