The Ethics of Minimum Wage: A Philosophical Perspective on Nigeria's Wage Struggle

 

For weeks we have witnessed the struggle for an increment in the Nigerian minimum wage. This situation is multifaceted and it touches on economic, social, and political dimensions. A Nigerian philosopher and professor, Sophie Oluwole,  once stated:

"Justice and fairness are the foundation of any society that wishes to thrive. When the basic needs of the people are ignored, the very fabric of society is at risk"'. 

This implies that for Nigeria to thrive, we must seek justice and fairness all round.  Every country must be able to ensure that her citizens can afford basic essentials while promoting justice and fairness. But sadly, Nigeria has faced considerable inflation in recent years, causing the cost of living to rise sharply, such that the average Nigerian struggles to provide 2 meals a day for himself, and family. This has made it increasingly difficult for workers to meet basic needs. Many have become homeless, many have died because of their inability to afford good healthcare, and many have dropped out of schools in a bid to survive.

It is being argued, that an increment in the minimum wage is essential to help workers keep pace with these rising costs, and maintain a decent standard of living. Many think that by raising the minimum wage, the government can help reduce the income inequality gap and improve the living conditions of millions of Nigerians. However, this line of thought hasn’t taken into consideration the cost-push inflation.

Cost-push inflation is a phenomenon which occurs as businesses pass on the burden of increased labor costs onto consumers in the form of higher prices for their products, and services.

While a minimum wage increase seems beneficial for workers, it is a secret invitation to more hardship. Increasing the minimum wage can in fact act as an hindrance to economic growth. It doesn't guarantee that the average standard of living in the country will improve or that inflation will reduce. If anything, cost-push inflation is likely to arise. 

In addition, increasing the minimum wage can cause challenges for businesses, especially small and medium-sized enterprises (SMEs). These businesses might struggle with the increased labour costs, which could lead to layoffs, reduced hiring, or even closures. It is crucial for the government to balance the needs of workers with the potential impact on businesses, possibly by offering support or subsidies to SMEs.

Someone may argue that increasing the minimum wage can act as an economic stimulus, for instance, when workers have more disposable income, they are likely to spend more on goods, and services, which can boost local businesses and stimulate economic growth. This can create a positive cycle of increased demand leading to higher production and potentially more job opportunities. But have you thought of the struggles local businesses and regular businesses will face with dwindling resources and infrastructure? with an inconsequential profit margin and with the need to comply with this new payment scale? What about regular inspections and penalties for non-compliance such businesses may have to deal with? Have you thought about how businesses will retaliate?

Instead of advocating for an increase in the minimum wage, why not champion the cause of equitable compensation for all? We should call for standardized labor compensation, and payment schemes across all three branches of government—the Executive, Legislative, and Judiciary. If our true aim is to achieve a balance between the upper, middle, and lower classes, to bridge the income inequality gap, and to enhance living conditions in the society, these are the demands we must make.

Shock Absorber

When you hear shock absorber, I bet what comes to your mind first is that which prevents you from feeling the jolts and vibrations whenever your car moves on a bad or rough road. Or when your car is making sudden breaks, or cornering.

However, this is not all that there is to say about shock absorbers. Of course, a mechanic or someone who uses a car will definitely say that the role of a shock absorber is to hold the car tyres firmly on the road and provide comfort for every ride, but have you thought about shock absorbers responsible for comfort and stability during your life journey?

What holds the tyres of your life, preventing them from sudden vibrations or skidding off the road into a pit or trap? What gives you comfort in your life journey? What is your shock absorber?

Is it your monthly salary or that job that ensures you receive alert often? Or is it your husband or wife who earns more than you and ensures you never lack? Or is it that philanthropist who you are certain was specifically sent to you? Is it your parents' wealth ? Perhaps it's your hustle? 

Your answer could be anyone of the above but do you know that money which is a general factor in all of the above isn't totally a guarantee of total comfort or joy? Yes Godly riches comes without sorrow but have you ever been in a situation where you received a credit alert  on your phone but are not satisfied and still want more? That should tell you, that money doesn't totally or always  give comfort. 

What or who then should you consider as your shock absorber? When you suddenly find yourself on rough edges or when you find yourself trying to balance your ride, what do you rely on or look up to? What about when unexpected things happen?

The answer to these questions, you already know. Sometimes we know the power of something but we downplay the power, thinking that it is no big deal or it isn't as serious and potent. 

God is your only sure shock absorber. You must never downplay the power or hold of God over your life or journey.

Not only will God guarantee your comfort and safety. He will also prevent you from getting lost or struggling. Especially when you encounter sudden vibrations, potholes or a shaking.