Labour unions in Nigeria are calling for an annual review of the newly introduced US$45 minimum monthly wage. While nearly 20 states and major private sector employers have begun paying the new wage, analysts warn that annual reviews could pose challenges, advocating for more sustainable long-term solutions.
It's encouraging to see progress with the implementation of the new minimum wage in Nigeria, as it reflects a step toward improving workers' livelihoods. However, the call for annual reviews raises valid concerns about sustainability, especially for smaller businesses and states with limited resources. While regular adjustments are important to keep up with inflation and economic changes, a balanced approach that considers long-term viability is crucial. Perhaps a focus on productivity growth, economic diversification, and targeted support for vulnerable sectors could complement wage policies, ensuring both workers and employers thrive in the long run.
ReplyDeleteIt is encouraging indeed. Thanks for your insightful comment!
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