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The Impact Of Salary Increase On Inflation In Nigeria
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1.5 SIGNIFCANCE OF THE STUDY.
This
study will be useful to policy makers in the economy to aid them
formulate sound economic policy that will keep inflation at the barest
minimum in the economy. The study is also important to other researchers
in this field as a reference materials to aid them in their own
research that are yet to be conducted.
1.6 SCOPE AND LIMITATION OF THE WORK
The
Nigerian economy with a labour force of 47.33million persons who
produced a national income of $353.2billion (CBN 2009) is dominated by
the public sector because 65% of the labour force are employed in the
public sector, 20% in commercial activities, 10% in agricultural
activities and 5% in the services (NBS 2009). The above data imply that
the study will cover government employees alone because they dominate
the labor force in the country. Data collected from a secondary source
ranged between 1984 to 2009. The year 1986 was chosen because that era
was characterized by the SAP (Structural Adjustment Program me).
However, this study has its limitations, which include;
1. There are very limited materials for the research. This is because few authors have thought on this issue.
2.
The unfriendly attitude of staff of various ministries and companies
where I went to collect materials because of secrecy and other reason
like money.
3. Difficulties in collecting data relating to my
project. Due to not enough information was available. After all the
difficulties I still got few materials that will help enrich my project.
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ABSRACT - [ Total Page(s): 1 ]No economy can escape the evils done is by inflation and unemployment because when measures to control one are being employed the other is being upset. However, we are dealing with inflation alone. In fact, this study investigates the impact of salary increase on inflation in Nigeria. In a bid to achieve the objective of the study, ordinary least square regression method was adopted using secondary data from 1984 to 2009 the results indicate that there is a negative relationship between the depe ... Continue reading---
