Nigeria is known to be “The Giant of Africa” and among the lead economies in the continent. The country is blessed with numerous resources and man power, to create things that can lead to more productivity. However, the country is not moving forward as it should due to insecurity and insurgents attacks, banditry, kidnapping and robbery.
As a matter of fact, Nigeria has a larger population and the market to maintain the lead in economic development in Africa and beyond. But the truth is that bad governance and some government policies are militating against the growth of the economy.
It may interest you to know that Nigeria's soil is fertile enough to produce what would sustain the country. Food production should not be a challenge because we have what it takes to achieve food sufficiency. But the problem is that our farmers are being attacked by terrorists and bandits, stopping them from going to the farms.
On the other hand, the standard of living in the country, is not comparable to what is obtained in other developed countries. Things are on the high side as Nigerians continue to lament on the workers wage and hike in commodities.
The federal government has approved thirty thousand Naira (30, 000) as minimum wage. Some people are saying that the amount is not enough, compare to the high cost of living in the country. However, some state have implemented it while others do not have the resources to pay its employees 30k minimum wage.
In the midst of abundance, Nigerians are yet to live comfortably. This is not to compare the country with developed countries in the world. This development has raised concerns over the high cost of living and instability in the price of commodities.
A few hours ago, a user of the 'Bird App' (Twitter) identified FS_Yusuf has lamented that prices of commodities are fluctuating and some people who live below the approved minimum wage are the ones that feel the pangs of this development. See his tweet below;
"You purchase a commodity this week, next week go for same commodity, you are def meeting a new higher price. I wonder how people that earn below 50k survive in this country. I'm very worried."
See people's reactions below;
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