The Nigerian government recently announced the removal of fuel subsidies, a decision that has sparked widespread debate. On one hand, there are arguments for economic efficiency and budgetary savings, and on the other hand, there are concerns about the social impact on the populace. Episode 2 of the Economic Jigsaw explores these perspectives as Host, Omolola Lipede discusses the way forward with our distinguished guest, Prof. Akin Iwayemi.Prof. Iwayemi Akinbolaji Philip is an expert in energy, environment, infrastructure, and development economics. He has undertaken consultancies in petroleum, gas, electric power, infrastructure, and general economic development and environmental issues in Nigeria and the Africa region for the past thirty years. In addition, He has also participated in the application of quantitative models to policy design and perspective planning. He is currently the Principal Investigator for the Centre for Petroleum, Energy Economics and Law (CEPEEL).
Episode 1 of the Economic Jigsaw tackles the critical issue of the national minimum wage in Nigeria. As the cost of living continues to rise, the debate intensifies over what constitutes a fair and livable wage for Nigerian workers. We explored the complexities surrounding the current minimum wage, examining its adequacy in meeting basic needs and its impact on both the economy and individual livelihoods.
Listen to co-host Evelyn Dan Epelle, in conversation with a prominent economist and academic, Prof. Mike Kwanashie on the disparity between the cost of living and the minimum wage in Nigeria. He speaks on the impacts of government reforms on the standard of living in Nigeria, and how Nigeria can work to cushion the negative effects on its most vulnerable population.
Prof. Kwanashie also clarifies the difference between cost of living, living wage, and minimum wage - citing how fiscal and monetary policies can be better coordinated for impoved economic performance.
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Prof. Mike Kwanashie was Head of the Department of Economics at Ahmadu Bello University Zaria from 1987-1990 and Sub-Dean (Academics) for the Faculty of Arts and Social Sciences at ABU from 1983-1984. He served as President of the Nigerian Economic Society and as Special Adviser on Economics and Social Matters in the Office of the Vice President, during the Obasanjo administration. He also held the position of Vice Chancellor at Veritas University and is currently a Professor of Economic at the institution.
The Economic Jigsaw is designed to foster policy debates and offer policymakers and the Nigerian public alternative policy options. Brought to you by the Nigerian Economic Society (NES) and the Centre for the Study of the Economies of Africa (CSEA) this podcast aims to spark dialogue and disseminate insights on economic issues in Nigeria and Africa to engage a diverse non-technical audience, bridging academia, industry, government, and the general public. New episodes are published monthly
