Every society in the world harbours wage inequality and to understand why there is a pay differential it is necessary to understand the problems associated with inequality. Inequality is the mother of poverty and is pervasive in the type of job or profession that is performed by the people of that society. This article brings to the fore some of the associated problems that would emanate in the shorter and longer run in the country with the current covenanted minimum wage payment in Nigeria. Problems such as demand pull and cost push inflation resulting in unemployment were identified. This might exacerbate the problem of poverty and inequality that is already Nigeria’s core problem. Minimum wage in Nigeria context is sectarian and not a universal payment. The government mandate is to the public employees and does not cover the informal workers that make up about 70% of the entire work force. It is also envisaged that the free for all demand increase in wages by all sectors of workers that might result from the minimum wage payment could spark off rises in prices of commodities and other items all over the country given the fact that the Nigeria’s government’s past poor history in macro-economic stability would struggle to deal with the backdrops of inflation and deflation which minimum wage would result. It was vividly posited that Nigeria is amongst the poorest nations of the world as the indices of Nigeria’s poverty and development profile indicate. This article is free from complicated economic diagrammatical and equation usage jargon; it’s more interpretive than illustrational in nature, therefore making the layman able to comprehend it without much of a problem. It is hoped that this article will serve as a general informative to the general public and the policy makers and by writing this article the Nigeria’s policy makers would be in position to equip them-selves better ready to deal with any possible macroeconomic problems ahead. The implementation of the minimum wage rather than being a blessing to Nigeria could actually end up haunting the populace of the country.