In the article published in the Sun, Dr. Adetokunbo Pearse, a public affairs expert and convener of the Reset Lagos Peoples Democratic Party, makes the case that Nigeria’s economy is in terrible shape, with high rates of unemployment, inflation, and lax enforcement of the minimum wage. He gives instances of people who are underpaid and find it difficult to pay for their commutes, and he implies that this state of affairs is detrimental to both productivity and the overall health of the economy. CONTINUE FULL READING>>>>>
He said, “Unemployment is at the highest rate, and inflation is the highest it has ever been. The minimum wage is N30,000, which is not even the actual minimum wage because the government has not been able to enforce it. I know hundreds of people who are still earning N20,000 a month. I know graduates that I taught about 10 years ago and they are earning about N100,000 monthly. I know a person who works at the Nigeria Ports Authority and lives in Ikorodu, he is only able to do one week on and one week off because the cost of transportation is N2000 to go to work and N2000 to return home. It about N120,000 a month. If he spends N120,000 a month on transportation, what is left from his salary is N25,000. It is impossible. So he has decided to go once every other week. The economy suffers because of low productivity, as people cannot go to work to produce, so the country loses money.” CONTINUE FULL READING>>>>>
