THE IMPACT OF MINIMUM WAGE FLUCTUATION ON GROWTH OF NIGERIAN ECONOMY

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ABSTRACT
This research work investigates the impact of minimum wage fluctuation on growth of Nigeria economy. Determinants of labour market in Nigeria arising from the economic transformation in recent years, and how public policy affects in particular labour market outcomes. The result has shown that increase in minimum wage increase by l unit (1 million), increase real gross domestic product by 0.038million. Similarly, an increase composite consumer price index in by 1 unit (1 million) reduced RGDP by -55.063 (million) Increase in per capital income by I unit (1 million) increase RGDP by 4788.060million. Also increase in labour forces by 1 unit (1 million) reduced RGDP by 0.005million while increase in inflation rate by 1 unit (1 million) reduced RGDP by 0.035. This is in conformity with the theoretical expectation, since it believes that increase in minimum wages and per capital income supposed to increase the real gross domestic product of the country. And that, per capital income is the most significant. This would propel the economy to higher levels of productivity. There is need for government to create enabling environment which would encourage heavy investment in infrastructural foundation that can enhance labour productivity and induce growth.

TABLE OF CONTENT
Title Page i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of Contents vi

CHAPTER ONE: INTRODUCTION
1.1 Background of the Study 1
1.2 Statement of the Problem 4
1.3 Objective oft he Study 8
1.4 Justification for Study 8
1.5 Research Hypothesis 9
1.6 Scope of Study 10

CHAPTER TWO: LITERATURE REVIEW
2.0 Introduction 11
2.1 Concept of Minimum Wage 16
2.2 Effect of Minimum Wage on Economic Growth in Nigeria 22

CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Introduction 24
3.2 Population of the Study 24
3.3 Source of Data 24
3.3.1Model Specification and Description of Variables 25
3.4 Procedure for Data Collection 25
3.5 Data Analysis 26
3.6 Methods of Data Analysis 26
3.7 Statistical Analysis of the Model 29
3.7.1 Statistical Criteria 29

CHAPTER FOUR: ANALYSIS OF DATA AND INTERPRETATION
4.1 Introduction 32
4.2 Re-Specification of Hypothesis 32
4.2.1 Model Specification 33
4.4 Data Presentation 33
4.5 Result 35
4.6 Interpretation of Result 35

CHAPTER FIVE: SUMMARY CONCLUSION AND RECOMMEDATION
5.1 Summary 40
5.2 Conclusion 41
5.3 Recommendation 42
Bibliography 46
Journal 49
Appendix

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THE IMPACT OF MINIMUM WAGE FLUCTUATION ON GROWTH OF NIGERIAN ECONOMY

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