Increasing the minimum wage is a temporary fix. Upgrading the skills of Nigerian workers is the surest way of boosting their wages.
Traders in Wuse, Abuja. Nigeria’s inflation is driven by soaring food costs and the fall of the country’s currency.
Emmanuel Osodi/Anadolu via Getty Images
Factors pushing inflation rates downwards in other parts of the world are achieving the exact opposite result in Nigeria.
While the current episode of inflation has created challenges for many, this is not the first time Canada has gone through such an experience.
THE CANADIAN PRESS/Sean Kilpatrick
The real question in the minds of many economists is what the trend in inflation will be going forward, and when interest rates will begin to fall and bring relief to Canadians.
Tiff Macklem, Governor of the Bank of Canada, holds a press conference at the Bank of Canada in Ottawa on Jan. 25, 2023.
THE CANADIAN PRESS/Sean Kilpatrick