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What Will Be The Aftermath Of The New Minimum Wage - Politics - Nairaland

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New Minimum Wage: FG Announces Decision On Workers’ Salary / New Minimum Wage Nationwide Strike Begins September 26 – Nigeria Labour Congress / New Minimum Wage Begins Before End Of Sept ―FG (2) (3) (4)

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What Will Be The Aftermath Of The New Minimum Wage by DCmonster: 10:41am On Mar 17
I was converting my salary in 2014 to it's equivalent in dollars, I also did a conversation to it's equivalent in dollars for the year 2019.
I didn't bother about the year 2023 and 2024.
In all I realised that my colleagues now earn less than what I earned in 2014.
If they were able to save #6m since 2014 that money was $30,000 at that year and $8,571 as at this time last year and now $3,750 this year.

Now back to the minimum wage, after the president signs and implement the new minimum wage the prices of commodities and inflation will skyrocket to at least 300% of its current value. Fuel will sell for at least #1200.
Because both private and public establishments will increase their service fees in other to generate revenues to fund the payment of their workers wages. Hospital bills will increase, cost of services will increase, prices of food and commodities will increase, cost of transportation will also increase all to at least 200%.
Because the Government will print more money to fund the supplementary budget for the new minimum wage which won't be more than #90,000 which is more than 200% increase from the current #30,000.

Nigerians should brace up for more hardtimes because since the Government has been able to shove down a lot of hardship down their throats within a short time with no response from the citizens.
All their policies will now be fully implemented to generate more revenue for the Government and as usual nothing will ever happen.
So Nigerians should brace up for more severe difficulties ahead.

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