Iyin aboyeji on arise tv (1).jpg
In a recent Arise TV interview, Flutterwave founder Iyin Aboyeji argued that Nigeria's weak Naira benefits the economy, despite concerns about purchasing power and minimum wage issues. Rufai Oseni challenged Aboyeji’s claims, citing the impact of inflation and the difficulties of automation in a power-deficient environment.

In a recent interview on Arise TV, Iyin Aboyeji, the founder of Flutterwave, sparked controversy by asserting that government money printing does not impact inflation. He argued that the current weak Naira positively balances Nigeria's economy with global markets. However, Rufai Oseni countered his claims, pointing out that the diminished purchasing power associated with a weak currency primarily benefits the elite, leaving the average citizen struggling with wages that fail to meet basic needs.

Aboyeji further attributed the inability of Nigerian companies to pay the new minimum wage to incompetence rather than external factors. He claimed that a high dollar rate allows businesses to hire more employees while still meeting minimum wage requirements, suggesting that automation could improve efficiency and lower labor costs.

Critics, however, have raised concerns about the feasibility of automation in Nigeria, citing the country’s unreliable power supply. They argue that while reducing staff through automation might seem like a solution, the high energy costs associated with running automated systems in an inflationary environment can create additional challenges for businesses.

In a separate context, Aboyeji drew comparisons between the book sales of Bishop David Oyedepo and J.K. Rowling, downplaying the significance of Oyedepo's sales in contrast to Rowling's monumental success. This juxtaposition further highlights the contentious discourse around economic strategies and market realities in Nigeria.