Governor Adams Oshiomhole of Edo State yesterday declared the current N18,000 minimum wage paid to Nigerian workers described as unrealistic in the wake of recent fall in the value of Nigerian currency, the Naira. Governor Oshiomhole, who noted that at N200 to one U.S. Dollar, Nigerian workers are merely earning $90 per month, at the current N18,000 minimum wage.

He condemned the poor salaries paid to the Nigerian workers even as he noted that the situation is worse at the level of public service. Governor Oshiomhole, who stated this while speaking with State House Correspondents shortly after meeting with President Muhamnadu Buhari, however did not say how much should be the ideal minimum wage.
“Let me be very clear, I believe the Nigerian worker is underpaid, particularly in the public sector. If you look at the wage trend now, you will find out that that a graduate earns Lever 8 Step 2 in the public service. If the same young man is to get a job in an oil company or some subsection of the public section, his pay will be much more.

“If a worker is confronted with endless rise in costs of living and his wages are stagnant, obviously whether you know it or not, he is already experiencing pressures on his living standard. If you look at the minimum wage when it was fixed, the exchange rate was about N140 to a dollar, so N18,000 is about $130 a month.

“ Now at N200 per dollar, N18,000 is about $90 and so you can see the only beneficiary in this kind of inflationary environment are those who have fixed assets like building. Because the more your Naira is devalued, the higher the nominal value of your assets,” he explained.

Speaking on the recent bailout to states, he lamented that the State was shortchanged by as much as N10billion in the last four years by the outgoing administration. He declared that the funds was sourced from the amount remitted by the Nigerian Liqueified Natural Gas, NLNG, but that the funds have never been remitted to the Federation Account.

“What was extraordinary is that the NLNG has over the years been remitting funds to the Federal Government. But the Federal Government illegally refused to transfer these fund to the consolidated revenue fund which belongs to the three tiers of government.

“All that President Buhari has done is in line with his commitments to ensuring that all funds and monies accruing to the Federation Account are so remitted, that he has directed the CBN to transfer the funds to the Consolidated Funds.





http://theunion.com.ng/news/n18000-minimum-wage-no-more-realistic-oshiomhole/

I came, I read and I left












so coool

NONSENSE

why is it no more realistic, when the politicians get millions monthly, please slash ur salary and allowance if u care

Tell your Oga to appoint Ministers. There are too many things to be done.

ponleh:
why is it no more realistic, when the politicians get millions monthly, please slash ur salary and allowance if u care

go thru it before u comment...tnk me lerra

I think the governor is right.







It is good to read before commenting


Lesson learnt

Since aftr marrying dat girl,something left ds man and he has never remained same.Apostle Suleiman needs to help you.coming to d topic phayvoursky is right

phayvoursky:
ABEG RETURN YOUR WIFE, MAKE HER FAMILY RETURN OUR MONEY.
YOU NEVER FIT PAY #18,000 NA TO COME FEED FOREIGNER

owolabifunke14:
Total deceit mr gov,is like ur sweet16 wife is brainwashing u on how to loot. Pay workers what is due for them

ponleh:
why is it no more realistic, when the politicians get millions monthly, please slash ur salary and allowance if u care

Mr, with the little economics i know, inflation refers to excess circulation of money in the economy. What led the naira to the quagmire it has found itself is the continuos importation of goods and services against local production. Another index is the continous comparison of dollar to naira in relation to the cost of living in our economy.
When u continue to increase salaries also expect increase in demand and at the same time, increase in prices of goods and services as a result of increase in imports void of local products. resulting effect will be increase in the rate of inflation and continious fall in the value if naira.

states cannot pay the current N18,000, still Osho wants an increase Only in Nigeria.

owolabifunke14:
Total deceit mr gov,is like ur sweet16 wife is brainwashing u on how to loot. Pay workers what is due for them

Did you read the post?

N40,000 for now should be ideal as minimum wage

Godskidmidas:
Did you read the post?

I read the headline and drew inference from it.

owolabifunke14:
I read the headline and drew inference from it.

Why not read the entire post.The headline is misleading

Read the post,thank me and then modify your comment

crazygod:
Mr, with the little economics i know, inflation refers to excess circulation of money in the economy. What led the naira to the quagmire it has found itself is the continuos importation of goods and services against local production. Another index is the continous comparison of dollar to naira in relation to the cost of living in our economy.
When u continue to increase salaries also expect increase in demand and at the same time, increase in prices of goods and services as a result of increase in imports void of local products. resulting effect will be increase in the rate of inflation and continious fall in the value if naira.

...and Oshiomhole is guilty of the bolded for importing a wife

Godskidmidas:
Why not read the entire post.The headline is misleading
Read the post,thank me and then modify your comment

Thanks

Demdem2:
“What was extraordinary is that the NLNG has over the years been remitting funds to the Federal Government. But the Federal Government illegally refused to transfer these fund to the consolidated revenue fund which belongs to the three tiers of government.
“All that President Buhari has done is in line with his commitments to ensuring that all funds and monies accruing to the Federation Account are so remitted, that he has directed the CBN to transfer the funds to the Consolidated Funds.


Above caught my attention. Indeed Jonah-daft was a curse.

eggbare jonaff-daft almost killed us!

owolabifunke14:
I think the governor is right.







It is good to read before commenting


Lesson learnt

owolabifunke14:
I think the governor is right.







It is good to read before commenting


Lesson learnt

Good student! Live long and prosper!

Somebody should tell Oshiomhole that N4.6B security vote is not realistic too.

Even from inception 18,000 has never taken anyone home, it only takes you to your bus stop

funlord:


Good student! Live long and prosper!

Amen to the prayer thanks

K

Whr's lalasticlala nah* oya,do d needful

gebest:
K

K for K1

ponleh:
why is it no more realistic, when the politicians get millions monthly, please slash ur salary and allowance if u care

Read before commenting so you don't embarrass yourself like this next time.

K

I TALK AM..