Payment of N18, 000 minimum wage has been faulted as one decision that would not solve the problem of Nigerian workers because of inflationary tendency.
Addressing the Nzuko Ora Nnewi (Nnewi town union), Chris Azubogu, member representing Nnewi North/South/Ekwusigo Federal constituencies in the National Assembly, argued that even if N100, 000 were fixed as minimum wage, it would be moped up quickly by a hyperinflation that would come up as the end product, because of price mechanism.

He recommends that since the law had fixed minimum wage at N18, 000, the Federal Government should find a way to cushion the value of the naira to check the resultant inflationary tendency.
According to him, “once you increase salary, the market woman increases the prices of her goods. But because it is already a law, we can’t discuss it any more. It will be implemented.
“The issue is not about minimum wage but what is important is to make the naira have value, and that is where Federal Government should focus.”

http://www.sunnewsonline.com/webpages/news/national/2011/july/07/national-07-07-2011-016.html

But jumbo pay and other inflated packages for lawmakers is okay. Abi!

now they voted him in and this is the consequence for that.STUPID NAS.

Behead him.

What was the next thing for you to do when u've gotten to the bridge? If you like cross it, or you jump into the river. One thing I know is, there is no going back

Then let them pay maximum wage.
Stupid lawmaker, after carting home millions of naira in salary and allowances every month.

He has a good point there sha, but they said charity begins at home. let the law makers start with slashing their jumbo pay.

anointed_f:

But jumbo pay and other inflated packages for lawmakers is okay. Abi!

lolz! no mind am, they should implement the pay first and forget about what come safter that

Another greedy person from the ****

this man speaks like an Economist! LMAO
With or without minimum wage there is inflation already.

It is crystal clear that #18000 minimum wage cannot solve our problem.All the same,private organization will only increase the least workers wages/salary to #18000 without any increase other levels.NLC has work to do on that part

Pay us the said minimum wage first   and receive your maximum wage. Stupid set of people. People Deceiving People (PDP)

It may not but the Nigerian government needs to pay them a living wage.It may not but the Nigerian government needs to pay them a living wage.

You guys are too harsh on the lawmaker. He is not against, and cannot stop the minimum wage, was it not the law makers that passed the law? What he is saying is true. He is warning his people to be ready for economic hardships and opportunities that will come with minimum wage. Minimum wage is just a nominal wage, not a real wage increase. Because of money illusion, Nigerian workers may be worse off with minimum wage. Though I don't think minimum wage will cause so much inflation that will cancel out its benefits, given that some commodities in the market are not income elastic.

If the FG removes oil subsidy as is being demanded by state governors, the minimum wage will be maximum suffering for Nigerians. [b][/b]

why can't people think?what has he said that is wrong?

@Solayemi, I think you're the one who was supposed to think deeply. This minimum living wage was calculated at #52,100 more than two years ago but govt slashed it down to 18k! Do you even know how many 18k we can get from this man's total monthly pay? Did he say anything about that jumbo pay in relation to our economy? I bet his dog spends more than that per month.

Will any of these law makers accept N18,000 just for one month?

the man spoke well but how can what he speaks about works,,,former cbn governor Dr Soludo spoke about this money value but some bloody greedy thief maker(lawmake)said no no no,to his idea,,we all need minimum wage as 18000,,but we can aswell find it out that,,even 100,000 is noting when you start spending,,,, for instance,,youre having #1000 but imediately you change it,it has lost its value,,, so we all need to put ourhead togather and think some thing out,,,come on we still need corns,,without corns no money valuety,,and that why our money lost its value,,,,so pple the man meant well ooo

The poor guy gave a good analysis and all he got was tongue bashing. Nigerians with our hastiness. smh.

what amaze me most is that when this lawmakers or law looters are called to speak, they do know the right thing to say but will never act or do anything to make the situation better. the man should keep quiet or tell us was their solution plan

He is very right indeed. Senators, house of assembly, local govt chairman, ministers and councilors should all get one offical car and one security detail but the security system and organization should be on point. These representatives should also get no more than the equivalent of $50,000 a year which should be the highest paid group (senators) only the senate president and vice should get $60,000 and $55,000 respectively. The governor and vice should get $70,000 and 65,000 a year respectively while our president and vice should get $100,000 and 90,000 respectively. Police and teachers should be the highest paid civil servants with the equivalent of $800 and $700 monthly with various benefits like some percentage off services like their kids school fees, metro system, and free lunch daily while on duty. With so many other amendments. The minimum wage in general should be the equivalent of $300 a month.
These amendments should come with recommitments to the nation. Nigeria has to be in order for everyones benefit. We need to scrap traditional institutions nation wide and also tax churches. No more govt benefits and allowances for traditional institutions. Their job was like a chief judge and local govt chairman but now we have both. We need to also use home made manufacturers as much as possible and a land ownership formula has to be prepared. If you have more than a certain square mile home it needs to be taxed heavily. Our regulatory enforcers need to work too. And many more but we need to start talking and doing these things. The year is 2011 not 1911. The slow and resistant to change for the better pace we are taking only prolongs our incompetence.
With these and many more fair for all regulations then we should be on track to be a successful nation and a model to the rest. By the way all those govt offical cars should be bullet proofs. Only governors should have 3 cars and 5 security details while the deputy should have 2 cars and 3 security details. The president and vice should be 8 to 10 cars and 30 or less security details while the vice should be 5 cars and 15 or less security details. We need serious land reforms and instituional reforms. Everyone should be given a choice to be a king or a ruler after they meet the requirements. Too many traditional rulers n one small nation with benefits is a waste of brain power and finance and also hinders usfrom us. Grow up Nigeria. Be that beckon of hope and light to africa especially west africa. eVERY nIGERIAN SHOULD HAVE DIGNITY IN THEMSELVES AND THE COUNTRY AND I MEAN REAL DIGNITY WHERE ACTIONS SPEAK LOUDER THAN WORDS OR SENTIMENTS.

Naijaway has got it right

Set a minimum wage and then link it to inflation - Its not rocket science.

Many countries use this method to set wages and wage increases.

If inflation is 5%, the wage increase is 5%.

for that speach alone, the guy deserves global award. GOOD JOB.

D guy aactually makes sense but dir jumbo pay 2 current minimum wage is a segregatn btw politicians n odas.
Govt needs 2 focus on adding value 2 d naira.

True talk!
govt shld +ce min wage, cut down jumbo(d segregatn btw politicians n odas) n focus on appreciatin d values of naira.

i cant believe people actually think this guy makes sense with his hyper-inflation crap.

Basic amenities like education for employees' families, health care for them and their families and subsidies for them such as transportation to and fro work for them and families in school only!! But they have to pay a fixed amount in taxes depending on their wage (not in percentage)!!!

That is the theme of the protest I'm organizing later this year in Nigeria! if you wanna join me, you are welcome! We will push these sukers to know that we are systematically in a third world not by means! And 50hrs a week in labour! with overtime payed forf


It will start simultaneously across Southern Nigeria (I'm sorry we really can't risk the North and any troubled area) But the results we achieve wherever we are able to protest will affect Nigeria!!!

We plan not to compromise in a deal! We want what we want and that is it!!

The minimum wage isn't enough!!!

Date will be known as soon as we are able to get the debate we are in done! Some of us still think Nigeria can not fund such things but a majority of us think Nigeria can do better!!

Story!


There is no country without inflation, unless inflation adds double digits or triple digits, please let this man leave his story behind, there is no hyper-inflation. Nigeria isn't experiencing inflation upward spiral, so why is this man convincing them on wrong notion? A few digits on our current inflation rate will NOT mope out their money, in order words they will spend more @ the same rate the inflation rate is.

Behead him



hahah, you wan try?

nakedall:

for that speach alone, the guy deserves global award. GOOD JOB.

A global award for what? Maybe because our lawmakers are known to be dumbos then anyone who makes elementary comments are revered like gurus. The lawmaker is saying the truth but with sinister motives. Jumbo pay increases inflation, so will minimum wage.

Considering the number of workers, increasing wage from somewhere around N7,000 to N18,000 will sure have inflationary effects but the workers are contented with the Myopic Loss Aversion - they perceive an increase in the nominal income as fair even if inflation rose by the same percentage or more.

The house member is selfish and callous. God will punish all of them if they refuse to reduce their jumbo pay. The House burrowed money to pay members' allowances. Can it not destabilize the economy? Mugu!