Nigeria needs a living wage, not a minimum wage
Nigerians off to work.   Source: Keleenna Onyeaka via Glimpse of Africa

According to Maslow’s hierarchy of needs theory, the journey to self-fulfilment is taken in five steps. 

The first is to meet basic needs like food, water, warmth, and rest. It is also the motivation behind most people’s quest to earn a living. 

But paying wages is tricky. On one side, you have an employer who seeks to pay the minimum amount to get a job done. And on the other hand, an employee who strives for higher wages.

This is an acute problem for low paying jobs, where there is a risk that salaries are not enough to meet basic needs. For workers to live comfortably, the right balance must be reached. 

This is what the government looks to address when they implement a minimum wage. 

 

The minimum wage is not enough

This is a national income floor - that is, the lowest amount that can be paid to anyone working at a job. Many countries

Don’t limit your understanding. Join the Premium community to continue reading.

Gbemisola Alonge

Gbemisola Alonge

Read Latest

Economies are gaining from carbon taxes, but not Nigeria

PREMIUM - 24 SEP 2021

Nigeria is experiencing a housing bubble and it's absurd

PREMIUM - 23 SEP 2021

Nigeria’s health infrastructure and its funding problem

PREMIUM - 22 SEP 2021

Battle for Benin Bronzes: Should Nigeria fight for their return?

PREMIUM - 21 SEP 2021