Is The Problem Low Salaries Or High Prices?

As families battle rising prices of food, transportation, rent and other basic needs, the call for higher salaries is also growing louder.

The Nigeria Labour Congress is backing a demand for a new minimum wage of ₦500,000, while some economists argue that any minimum wage below ₦200,000 is grossly inadequate given the current cost of living.

But as salaries increase, prices could also remain a major concern, raising the question of whether Nigerians need more money in their pockets or lower prices for the things they buy every day.

Today on Nigeria Daily, we look at whether the solution to Nigeria’s cost-of-living crisis is higher salaries, lower prices of goods and services, or both and what it means for Nigerian families and workers.