My Thoughts On The Ongoing Issues Of Minimum Wage In Nigeria, Plus A Possible Way Forward

_{What is the minimum wage in your country currently? Do you think it's realistic enough for the common person? If you could change something about this situation in your country, what would you do? From #hiveghana engagement topic}

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In the wake of the current economic hardship in Nigeria caused by the high inflation rate that has prompted the country's workers union to call the government to a negotiation table, they think it is time to readjust the country's minimum wages to reflect the current economic reality.

This issue has been dragging on for a while now, which has even prompted the Union to undergo a two-day strike last week, the strike that is now being suspended pending the outcome of the negotiations from the government and all the parties involved.

But as things stand as of today, there seems to be no way forward, the labor union is negotiating for 250,000 Naira and above from the current 30,000 Naira, while the government is insisting they can not afford more than 62,000 Naira. As you can see, there is a long gap between what the union is asking for and what the government says they can pay.

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Our current minimum wage

Our current minimum wage is 30,000 Naira, is it enough for the common person in my country, very far from being enough with the current inflation rate that stands at 33.69%

And the worst part is that only the federal government, some state governments, and a few private organizations have been paying the current minimum wage. Other state governments and a lot of private organizations will tell you they can not afford that amount, and nothing has been done about that.

Now just imagine if what the union is asking for is approved, how many organizations will be able to afford it?

The federal government is already threatening the union with massive job loss if an amount they can not afford to pay is approved.

So what is the way forward? What can we do? If I'm in a position to act, what changes will I make?

When I heard the labor union talking about increasing the minimum wage and going on strike, my body irked me. By now I was thinking we as a country would talk about the real monster, and go after the cockroaches later.

Increment in the minimum wage may seem like the easy way out right now but I do not see it as something sustainable and here is why;

The current 30,000 Nairas were approved in 2019 and everyone was happy, but look at where we are today, the race between our minimum wages and inflation is like a snail running after a Tiger and I think you know who the snail is here.

So why don't we fight inflation, the real monster and maintain a realistic minimum wage? If the current negotiation should scale through, how long before this current inflation if not put to check catches up with any amount being arrived at?

These are all the questions that have been bugging my mind since the talk of increments of minimum wage.

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What will I do if I have the means

Cut down the takehomes of all elected government officials, and let their offices become less attractive, give them our minimum wage. Only then the people who are ready to work and not only after the national treasure will come forward to lead the people.

All that money will then be channeled into productivity, and the country will focus hard on becoming a productive economy, by so doing we will have more products to export which will automatically translate to more inflow of dollars into the country, the pressure on the Naira will drastically reduce, gradually inflation will continue to die a natural death.

Moreover, the number one enemy of this country which is corruption must be killed if we are ready to grow. There are just too many loopholes that must be sealed, and for that, I think life imprisonment for all corrupt politicians and government officials will be a great start.

But deep down you and I know that it will be extremely difficult for these to happen because of the people benefiting from it. But I believe one day we shall all reach a breaking point where everything will be put on the table for some serious rearrangement until then brace up my people. I do not see any form of light at the end of this dark tunnel just yet.

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