N500,000 minimum wage demand unrealistic now, says economist
Nigeria, Oct. 3 -- An economist, Paul Alaje, has described Nigerian workers' demand for a N500,000 minimum wage as unrealistic under current economic conditions, warning that such an increase could trigger further inflation.
Mr Alaje, the chief economist at SPM Professionals, however, said the current N70,000 minimum wage was inadequate and could not provide workers with a decent standard of living.
He spoke on Arise Television's News Night on Friday amid a three-day warning strike by public sector workers under the aegis of the Joint National Public Service Negotiating Council (JNPSNC) from 2 to 4 October.
The workers are demanding a new minimum wage, an immediate increase in salaries and a reduction in the price of petrol to N500 per...
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