It's no secret that the high inflation rate has damaged the Nigerian economy, causing unprecedented poverty levels and price hikes. YetHowever, as the actual costs in the country remain lower than abroad, the government must focus on boosting purchasing power rather than addressing inflation — and fixing the minimum wage would be key.

In the face of Nigeria's cost-of-living crisis, labor unions have urged the government to raise the national minimum wage. However, the minimum wage doesn't protect workers from poverty — it effectively traps them in a vicious circle that can only be broken if people acquire the skills and capabilities needed in the global economy.

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