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President Tinubu<\/p>\n
By Amah<\/p>\n
Kindly share<\/p>\n
Despite the natural resources in Africa, the continent is still grappling with a lot of issues. One of such is \u201cminimum wage.\u201d Nigeria has the fourth largest economy in Africa but can barely provide a satisfying salary to its workers. About a decade ago, the minimum wage was N18,000; it was increased to 30,000 a few years ago.\u00a0<\/span><\/p>\n Recently, Tribune Online reports that President Bola Tinubu forwarded a N70,000 new minimum wage bill to the National Assembly after weeks of back-and-forth with the Organised Labour. Ofcourse, the bill was speedily passed into law by NASS. However, despite the excitement around the new development, you need to see Nigeria\u2019s minimum wage ranking.<\/span><\/p>\n The list below is based on a report by \u201cSBM Intelligence.\u201d\u00a0<\/span><\/p>\n Morocco had an economic expansion through exports, private consumption and strong macroeconomic policies. Agricultural sector is quite weak but other areas such as tourism are expected to take off. Morocco has the highest minimum wage of 286 dollars among the top African economies. The country\u2019s current GDP is 152 billion dollars.<\/span><\/p>\n In the first quarter of 2024, South Africa faced some economic difficulties due to the weak automotive sector, mining, communication, gas, electricity and in government services. In all these, agriculture was able to rise including real estate and finance. It still remains the largest economy in Africa with 373 billion dollars but the country\u2019s minimum salary is 248 dollars.<\/span><\/p>\n The ongoing Gaza crisis\u00a0 affects Egypt; it slowed down tourism but notwithstanding, it\u2019s still one of the nation\u2019s sources of revenue. The International Monetary Fund (IMF) is very positive about the country\u2019s GDP improving by 4.4 percent in 2025. Currently, Egypt is the second largest economy with 347 billion dollars. Its minimum monthly wage is 157 dollars.<\/span><\/p>\n Algeria has been experiencing remarkable contribution from the private sector but still encountering problems of diversification to strengthen financial and political reforms. Oil and natural gas exports are expected to help the growth of the economy. Algeria GDP is 266 billion dollars, making it the third largest economy in Africa. Their minimum wage is 140 dollars.<\/span><\/p>\n The economic situation in Kenya is quite promising regardless of the influence of inflation and debt. Numerous efforts are made to increase regional and international trade which probably can continue to boost the system and create jobs. The GDP of Kenya is 104 billion dollars and the minimum salary is 136 dollars.<\/span><\/p>\n Inflation has been causing\u00a0 a setback for Angola including its reliance on oil but the economy is still expected to be stronger with the help of investment. Angola is one of the thriving African economies; its GDP is 92 billion dollars. The economy is yet to generate enough jobs to match Angola\u2019s work population. The minimum wage is 120 dollars.<\/span><\/p>\n The Ukraine-Russia war affected C\u00f4te D\u2019 Ivoire negatively. The country\u2019s economy is driven by manufacturing, telecommunications, trade and investment. In 2023, there was significant growth but the GDP now is 86 billion dollars with 96 dollars as minimum wage.<\/span><\/p>\n Tanzania is a country very keen about agriculture but inflation has been eroding the expected growth of their economy. The GDP for this year is 79 billion dollars with the hope of decrease in inflation. As one of the fastest growing economies in Africa, its monthly salary stands at 61 dollars.<\/span><\/p>\n Ethiopia\u2019s GDP is worth 205 billion dollars. This country is one of the fastest growing economies in the world but has been facing debt challenges. Nevertheless, the country has the potential for more investment. Despite being among the top economies, Ethiopia\u2019s minimum wage is 52 dollars.<\/span><\/p>\n Since after independence, Nigeria\u2019s economy has been primarily based on petroleum. The country has continued to witness inflation, bad policies, lack of good governance and unstable revenue. All these are contributing factors to unfavourable earnings by the government. The Gross Domestic Product of Nigeria is 252 billion dollars, but the minimum wage currently is about 44 dollars.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" President Tinubu By Amah Kindly share Despite the natural resources in Africa, the continent is still grappling with a lot…<\/p>\n","protected":false},"author":1,"featured_media":1018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,2],"tags":[394],"class_list":["post-1298","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy","category-news","tag-top-african-ecinomies"],"yoast_head":"\n\n
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