On Nigerian Minimum Wage
So here’s my take on the minimum wage: you cannot conduct transactions in a democratic system when your core institutions are not fundamentally strong. When the law requires private businesses to pay a minimum wage but doesn’t, does it protect whistleblowers? Of course not, Nigeria as a country is operating on alternative facts, you don’t craft legislation just to score political points hoping it plays well with the larger class, Nigeria should focus on achieving a tight labour market to boost wages, then you can put a cap on it, but how do we achieve that, it’s not just fundamental economics, it’s more than that.
Chucks
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