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The Impact Of Minimum Wage Fluctuation On Growth Of Nigerian Economy
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This research work investigates the impact of minimum wage fluctuation on growth of Nigeria economy. Determinants of labour market in Nigeria arising from the economic transformation in recent years, and how public policy affects in particular labour market outcomes. The result has shown that increase in minimum wage increase by l unit (1 million), increase real gross domestic product by 0.038million. Similarly, an increase composite consumer price index in by 1 unit (1 million) reduced RGDP by -55.063 (million) Increase in per capital income by I unit (1 million) increase RGDP by 4788.060million. Also increase in labour forces by 1 unit (1 million) reduced RGDP by 0.005million while increase in inflation rate by 1 unit (1 million) reduced RGDP by 0.035. This is in conformity with the theoretical expectation, since it believes that increase in minimum wages and per capital income supposed to increase the real gross domestic product of the country. And that, per capital income is the most significant. This would propel the economy to higher levels of productivity. There is need for government to create enabling environment which would encourage heavy investment in infrastructural foundation that can enhance labour productivity and induce growth.
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CHAPTER ONE - [ Total Page(s): 3 ]The committee had, while presenting its report to the Secretary of
Government of the Federation (SGF), Ahmed Yayale, in Abuja noted that
the N 18,000 minimum wage would not lead to inflation as being canvassed
in some quarters.“The Tripartite Committee on National Minimum Wage
has recommended a national minimum wage of N18,000 per month for all
establishments in the public and private sectors employing 50 workers
and above,†Belgore stated. “The committee met severa ... Continue reading---
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CHAPTER ONE - [ Total Page(s): 3 ]The committee had, while presenting its report to the Secretary of
Government of the Federation (SGF), Ahmed Yayale, in Abuja noted that
the N 18,000 minimum wage would not lead to inflation as being canvassed
in some quarters.“The Tripartite Committee on National Minimum Wage
has recommended a national minimum wage of N18,000 per month for all
establishments in the public and private sectors employing 50 workers
and above,†Belgore stated. “The committee met severa ... Continue reading---
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ABSRACT -- [Total Page(s) 1]
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