Only 5.3 million Nigerians working in the formal sector will benefit from the new minimum wage, available data have shown.
In other words, of Nigeria’s total population of 229 million people, 76 million (33.2 per cent) are workers, but not all of them will directly benefit from the wage increase because of some factors, analysts say.
A back-of envelope calculation by the National Bureau of Statistics (NBS) shows that 1.2 million (23 per cent) and 0.3 million (six per cent) work with the federal government, drawing salaries from the Consolidated Revenue Fund, and government-owned enterprises respectively.
