Nigerians need deflation of economy, not increase in minimum wage

Onuesoke, in a chat with Vanguard said wage increment would not solve the economic problem in the country, but would increase it.His words: “What Nigeria wanted is deflation. If you increase the salary to one million Naira today, the prices of goods and services will keep increasing. The more you increase the minimum wage, the more it goes ‘pari passu’ with the increase of goods and services.

“The country is not being controlled by only civil servants alone. The civil servant is just 14 per cent of those providing services in Nigeria. They are insignificant margins. When you are thinking of civil servants, the private sectors are not addressed as civil servants. There is no private sector that will be able to pay that amount of money as salary monthly.

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