Effects Of Minimum Wage In Public Sector On Selected Macroeconomic Variables In Nigeria

📄 Project Abstract

It is no longer unusual to hear that workers are agitating for increase in their wages and salaries especially in the public sector where several times workers have had to embark on strike actions just to get their wages and salaries increased, the history of income policy has longed being in existence as far back as the colonial rule. Many have argued that public sector workers deserve adequate compensation commensurate with their labour in order to bring about efficiency. This is because in the view of many, the Nigerian public service seems to be associated with inefficiency, negligence and mis-management (Efe 2006). Thus in view of this, labour union organizations have severally called for wage indexation to improve the well-being of the workers as it is believed that when the income of the worker is able to meet his basic needs the workers will be motivated for greater productivity in this sector. There is a general consensus that minimum wage increase is usually followed by i...