Nigeria’s new minimum wage: where will the money come from?

Earlier this year it was announced that Nigeria’s minimum wage would increase from N7,500 (US$48) a month to N18,000 ($115), representing a 140% rise. Implementing this is, however, proving harder than anticipated. Business Day reports that the three tiers of government alone will require over N3 trillion (US$19 billion) annually to implement the scheme for civil servants. Read the full article at Business Day.

Despite our best efforts, How we made it in Africa cannot cover every single business story on the continent. What you need to know tracks important developments originally reported on by other media organisations.