Nigerians speak on the ideal minimum wage

The ongoing controversy surrounding Nigeria's minimum wage has sparked intense debates on what the ideal minimum wage should be. Currently, Nigeria pays N18,000 as the minimum wage, which is just under 50 US Dollars. This figure has left many labor unions and citizens dissatisfied, arguing that it does not align with the current economic realities of the country. To gain insight into the public opinion on this matter, CNBC Africa took to the streets of Lagos to sample the perspectives of the Nigerian populace. The responses varied widely, reflecting the diverse economic challenges faced by individuals in the country. One respondent argued that the minimum wage should be at least 50,000 Naira to accommodate the high cost of living in Nigeria. Another suggested 40,000 Naira per hour as a reasonable estimate, while a different opinion pitched the figure at no less than 100,000 Naira per hour. These viewpoints underscore the pressing need for a significant increase in the minimum wage to enable Nigerians to meet their basic needs and improve their quality of life. The disparity between the current minimum wage and the proposed figures highlights the urgent call for policymakers to address this issue and enact reforms that will uplift the financial well-being of the Nigerian workforce.