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Stephen Onyeiwu, Andrew Wells Robertson Professor of Economics, Allegheny College

A gloomy May Day awaits Nigerian workers

Minimum wage is no match for rising cost of living Photo by Adekunle Ajayi/NurPhoto via Getty Images

Imagine you live alone and walk into a local food market in Lagos, the Nigerian commercial capital, to buy a week’s worth of basic food items. In less than 15 minutes, you would find that you’ve spent at least 10,000 Naira (or US$24 at the official exchange rate of US$1 = 416 Naira).

This may seem minuscule to privileged households but such expenditure is a heavy burden on Nigeria’s 62 million workers.

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