There has been a lot going on about the new minimum wage and the government of the day seems not to have any solution to this problem.
The truth of the matter is that, increament of the minimum wage would impact the spending capacity of many nigerians thereby boosting the general health of the economy because businesses will fare better as poeple are able to buy more and there is is increase in cash flow, as it is now only few of the populace are spending.
Many state government declared that they are not able to support the new minimum wage even with the allocation from the federal government.
To help the nigerian economy as it is, it is necessary to increase the general spending of nigerians as to increase cash flow. I am of the opinion that a compromise should be reached.
The federal government should review the salaries of the top earners downwards and remove unnecessary allowances, groups like senators, house of rep, governors and other high level earners like the DG of customs, so that there will be enough cash to allocate and accomodate for the minimum wage increase.
The purpose of this compromise is to increase the spending capability of many nigerians while capping off unnecessarily emoluments of the top earners as to ensure the welfare of average nigerians.
Please feel free to add your own input, and lets hope that this message gets to the right authorities involved.
Just my 2 cents. Peace.