Economist Alaje Suggests N100,000 as Minimum Wage for Nigerian Workers
Chief Economist and Partner at SPM, Paul Alaje, has recommended that the federal government's minimum wage review should be no less than N100,000. This revelation was made during an interview with Channels Television on Thursday.
Alaje highlighted that Nigeria's minimum wage has undergone five historical reviews, increasing from N30,000 in 2018 to N125 in 1981. He emphasized that in order for Nigerian workers to break out of the poverty cycle, the minimum wage should range between $100 and $200.
In anticipation of rising costs of transportation, energy, goods, imported items, and food in Nigeria, Alaje suggested that the government consider setting the minimum wage between N130,000 and N250,000 by 2024.
He stated, "To lift individuals out of poverty, they must earn around $1...