Nigeria Agrees on New Minimum Wage Amid Cost of Living Crisis

As per Reuters, Nigeria’s main labor unions agreed on a new minimum wage of US$44 a month on Thursday after talks with the government, ending months of deadlock and the threat of strikes. Africa’s most populous nation is grappling with the worst cost of living crisis in a generation, stoking fears of protests similar to those in Kenya. Nigeria’s two biggest union federations, the Nigerian Labour Congress and the Trade Union Congress have argued that soaring prices and a weakening currency caused by reforms instituted by President Bola Tinubu were hitting workers hard.