By Udesinanna Stephen
Former Chief Executive Officer, CEO, National Bureau Of Statistics, NBS, Dr Yemi Kale said that as a result of inflation N30,000 has a purchasing power today of about N17,000.
The Former Statistician General made this known via his Twitter handle, @sgyemikale.
According to him: “Between April 2019 when last minimum wage was set at N30,000 and now, Consumer Price Index, CPI, has increased by about 80%.
“While cumulative Month on Month, MOM inflation has increased to about 60%. Hence, the N30,000 minimum wage has a purchasing power today of about N17,000.”