Nigeria Doubles Minimum Wage for Government Workers
Agreement reached after months of negotiations and strikes as inflation hits record levels.
Overview
- New minimum wage set at 70,000 naira, up from 30,000 naira, pending legislative approval.
- Unions initially demanded nearly 500,000 naira but accepted the government's offer with reservations.
- High inflation and cost of living crisis have severely impacted Nigerian workers' purchasing power.
- President Tinubu's economic reforms, including fuel subsidy removal, have contributed to rising prices.
- The wage increase aims to alleviate some economic pressures but may strain state budgets.