Does increasing the Minimum Wage increase inflation?

Jun 20, 2024

Does increasing the Minimum Wage increase inflation?

This brief examines the potential impact of a minimum wage increase in Nigeria, taking into account the current economic state and the factors driving inflation. It also provides a minimum wage recommendation to guide the government and labor unions in reaching a realistic minimum wage.

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About The Author

BELLO MUHAMMAD ABDULLAHI

Bello is a Research Assistant at CSEA. He earned a Bachelor of Science degree in Economics and Development Studies from the Federal University of Kashere, with a First-class Honours degree. His research interests encompass a wide range of topics, including energy economics, macroeconomics, international and development economics. He has also engaged in various research projects, with a focus on economic growth, inflation, and foreign direct investment in Nigeria. Prior to joining CSEA, he also had a history of accomplishments, research, and volunteer experience dating back three years. He is also a full active member of the Nigerian Economics Society and the World Economics Association. Bello is also a recipient of the NNPC-Chevron Merit Undergraduate Scholarship as well as the Federal Government National Merit Award Scholarship.

ACHI PETER CHIDIEBERE

Peter is a Research Assistant at CSEA. He holds a Bachelor of Science degree in Economics from the University of Nigeria, Nsukka (UNN). His research interests cut across international economics, macroeconomics, and public policy. He is strongly interested in politics and international economic relations. Prior to joining CSEA, he worked with the Development Bank of Nigeria (DBN) as a Research Assistant to the Office of the Chief Economist, DBN. He also previously worked with Qverse IT Serving Organization as a Researcher.