The Economic implication of Minimum wage implementation is prices of goods will go up, to checkmate money in circulation.
Mrs. Hadiza Sabo, the Nasarawa State Chairperson of Market Women Association (MWA), has implored traders not to increase the prices of their goods following approved minimum wage for workers.
Sabo made this call in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lafia.
She said that the traders should not take advantage of the increase in salaries to cause hardship on the poor masses, who are always at the receiving end.
“The minimum wage would go a long way in ensuring a boom in businesses, as there would be more money in circulation.
“If workers have more money, it would enhance their purchasing power and they would, in turn, buy goods and services from us, thereby bettering our lives as well,” she added.
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According to her, beliefs in some quarters that traders always increase prices of their products whenever there is an increase in the minimum wage are not true.
She explained that price increase by traders had to do with price increase by manufacturers and farmers among others in the production and service chain.
Sabo congratulated workers for the increase in their salaries and called on the state governors to begin the implementation in their respective states.
She also lauded Gov. Abdullahi Sule of the state for his developmental strides so far.
Sabo implored the governor to empower more women, especially widows and rural women, to enable them to contribute more to the development of the state.
The chairman also urged women in public offices to give back to their constituencies by empowering women to be self-reliant.
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