Stagnant wages, rising inflation, and low purchasing power in Nigeria may jeopardize President Bola Tinubu's economic agenda. Nigerians are struggling to meet their basic needs as household spending increases and the quality of living standards declines. The removal of petroleum subsidy and devaluation of the Naira have further worsened the inflation crisis. The government has not increased the minimum wage, causing concerns among labor unions.
Stagnant wages, the inability of a majority of Nigeria ns to meet their basic needs due to rising inflation and low purchasing power may imperil the economic agenda of President Bola Tinubu . With household spending rising on a daily basis, more Nigeria ns are dropping the quality of standard of living in a bid to cope with the current harsh economic reality, LEADERSHIP Sunday learnt.
Since coming into office, the Tinubu government has removed the subsidy on Petroleum Motor Spirit, further worsening the inflation crisis and has also devalued the Naira, making imported goods more expensive. The government has however left the minimum wage frozen at about N30,000 a month and only choosing to provide a wage award of N35,000 across board to all civil servants for a period of six months. No agreement has been reached with labour unions on a new minimum wage making it unlikely that an agreed wage increase could come into effect immediately after the first quarter of 202
Nigeria Wages Inflation Purchasing Power Economic Agenda President Bola Tinubu Household Spending Living Standards Petroleum Subsidy Naira Minimum Wage Labor Unions
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