New Minimum Wage: A Reality Or What?

Nigeria as one of the worlds highest economic growth rates, average 7:4% according to the Nigeria economic report release in July 2014 by the world bank. Poverty have been over estimated because country's economy is now being understand more and more. Poverty still remains significant at 33:1% in Africa's biggest economy.

For country with massive wealth and huge population to support commerce, the level of poverty remains, unacceptable as 70% of the population remains. In particular there are more rural poor. The urban poor this result from the composition of Nigeria's economy, especially the energy 'oil, and Agriculture sector oil export contribute significantly to government revenues and about 35%.

Two-Thirds of Nigeria population lives below the poverty line, which means over 100 million people live in absolute poverty, surviving on less than one dollar a day. Nigerians have lamenting following the annoucement of the oil sector which hit up the price of the product from N86 to 145 per litre.

This was most surprise to may country, Nigeria was among member of OPEC. While other members of the countries selling petroleum price of their nations. Kuwait was among the OPEC, while price of 3.61 Naira per liter minimum wage 161. 461 Naira. Saudi Arabia 25.12 Naira per litre minimum wage 99,237 Naira. Iran 102.05 Naira per litre while minimum wage 86.582 Naira. Qatar 34.54 Naira per litre while minimum wage 101,250 Naira.

U. A. E 78,18 Naira while 217.362 Naira. Algeria 63.55 naira while minimum Wage 55,957 Naira. Libya 26.69 Naira while minimum wage 23,813 Naira. Iraq 59.66 naira per litre while minimum wage 25, 813 Naira Questions? NIGERIA 145:00 per litre while 18.000 Naira minimum wage not for each state?

Usman Mohammed. Department of Mass Communication,
IBB University,
Lapai-Niger State. 07060815443
[email protected]