The World Bank has announced that Nigeria’s growing inflation rate has cut the existing minimum wage by 55% and has raised the number of poor by 5 million in 2022.
This was revealed at the Corporation’s launch of the Nigeria Development Update for December 2022 Edition, and the Country Economic Memorandum held in Abuja on Thursday
Nigeria’s current minimum wage is N30,000, but going by world bank estimation, it is now N19,355.
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