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Nairaland Forum / Nairaland / General / Politics / N18,000 Minimum Wage No More Realistic –oshiomhole (29093 Views)
FG Okays 29-member Panel On N56,000 Minimum Wage Demand / No New Minimum Wage, No Industrial Peace In 2017, Labour Tells FG / We Must Cut N18,000 Minimum Wage Or Sack Workers — Governors (2) (3) (4)
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N18,000 Minimum Wage No More Realistic –oshiomhole by richidinho(m): 1:19pm On Jul 12, 2015 |
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/ 8 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by sim37(m): 1:19pm On Jul 12, 2015 |
I came, I read and I left so coool 1 Like |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by kodded(m): 1:21pm On Jul 12, 2015 |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by MabraO: 1:23pm On Jul 12, 2015 |
He made sense sha I was here 17 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by CUM4WHAT(m): 1:25pm On Jul 12, 2015 |
NONSENSE 4 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by ponleh(m): 1:27pm On Jul 12, 2015 |
why is it no more realistic, when the politicians get millions monthly, please slash ur salary and allowance if u care 15 Likes 1 Share |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by Edipee(m): 1:29pm On Jul 12, 2015 |
Tell your Oga to appoint Ministers. There are too many things to be done. 20 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by richidinho(m): 1:29pm On Jul 12, 2015 |
ponleh: go thru it before u comment...tnk me lerra 56 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by phayvoursky(m): 1:30pm On Jul 12, 2015 |
ABEG RETURN YOUR WIFE, MAKE HER FAMILY RETURN OUR MONEY. YOU NEVER FIT PAY #18,000 NA TO COME FEED FOREIGNER 24 Likes 1 Share |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by owolabifunke14(f): 1:31pm On Jul 12, 2015 |
I think the governor is right. It is good to read before commenting Lesson learnt 15 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by Ama80(f): 1:36pm On Jul 12, 2015 |
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 13 Likes 1 Share |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by arewafederation: 1:40pm On Jul 12, 2015 |
phayvoursky: owolabifunke14: ponleh: 4 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by crazygod(m): 1:43pm On Jul 12, 2015 |
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. 15 Likes 2 Shares |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by atlwireles: 1:44pm On Jul 12, 2015 |
states cannot pay the current N18,000, still Osho wants an increase Only in Nigeria. 15 Likes 1 Share |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by Godskidmidas(m): 1:47pm On Jul 12, 2015 |
owolabifunke14:Did you read the post? 9 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by Juxtified(m): 1:54pm On Jul 12, 2015 |
N40,000 for now should be ideal as minimum wage 18 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by owolabifunke14(f): 1:54pm On Jul 12, 2015 |
Godskidmidas:I read the headline and drew inference from it. 1 Like |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by Demdem2: 1:56pm On Jul 12, 2015 |
“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. 13 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by Godskidmidas(m): 1:56pm On Jul 12, 2015 |
owolabifunke14:Why not read the entire post.The headline is misleading Read the post,thank me and then modify your comment 9 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by richidinho(m): 2:18pm On Jul 12, 2015 |
crazygod: ...and Oshiomhole is guilty of the bolded for importing a wife 28 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by owolabifunke14(f): 2:21pm On Jul 12, 2015 |
Godskidmidas:Thanks 2 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by adamskutty(m): 2:32pm On Jul 12, 2015 |
Demdem2:eggbare jonaff-daft almost killed us! 6 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by funlord(m): 2:37pm On Jul 12, 2015 |
owolabifunke14: owolabifunke14: Good student! Live long and prosper! 5 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by iluvnaija: 2:42pm On Jul 12, 2015 |
Somebody should tell Oshiomhole that N4.6B security vote is not realistic too. 7 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by kromoto: 2:45pm On Jul 12, 2015 |
Even from inception 18,000 has never taken anyone home, it only takes you to your bus stop 17 Likes |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by owolabifunke14(f): 2:48pm On Jul 12, 2015 |
funlord:Amen to the prayer thanks 1 Like |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by gebest: 2:50pm On Jul 12, 2015 |
K |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by erisegun: 3:07pm On Jul 12, 2015 |
Whr's lalasticlala nah* oya,do d needful |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by erisegun: 3:07pm On Jul 12, 2015 |
gebest:K for K1 |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by sunnyb0b0(m): 3:09pm On Jul 12, 2015 |
ponleh: Read before commenting so you don't embarrass yourself like this next time. 1 Like |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by hakeem4(m): 3:25pm On Jul 12, 2015 |
K |
Re: N18,000 Minimum Wage No More Realistic –oshiomhole by Nobody: 3:25pm On Jul 12, 2015 |
I TALK AM.. |
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