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Does Your Income Seem Insufficient? Here’s How You Can Boost It by RegalLady: 12:05pm On Mar 02, 2018


Someone once said, “employees work just enough not to get fired and employers pay just enough so workers don’t quit.” This statement is true in many ways. Many employees in Nigeria tend to only increase the pay of their staff when they get the hint that they want to leave or when they receive their resignation letter.

The issue of remuneration is getting worrisome as employees hardly salaries they deserve. Worse still, the salaries often do not arrive on time in many instances. Consequently, many Nigerians are forced to look for green pastures overseas.

To understand how bad the issue of salaries are in the country, here are some quick facts.

A glance at facts
In December 2017, the Nigerian Bureau of Statistics (NBS) released figures about unemployment rate in Nigeria which currently stands at 18 million. The figure sums up the population of those who are actually unemployed and those that are underemployed. Going by trend in previous stats, it’s easy to see that unemployment has been growing worse for the last 2 years.

The population of those employed is estimated to be 69 million. If we go by the general belief that our population as a nation is 180 million, one can safely say that just 1 in every 4 Nigerians is fully employed. The rest of the workforce has to deal with being misfits at their work place or settle with earning far lower than what their industry offers globally.

Now it’s apparent to know why there is restlessness on the part of the youths in the country. Frustration has made many delve into shady activities on the cyberspace while others engage in crime that often lead to loss of lives and properties. They may not have planned doing such but pent up frustration has a history of remaking good people.

The blunt truth is that the available jobs are unavailable to go round.

Nigerian minimum wage in comparison with other countries around the world
While the Nigerian minimum wage remains transfixed at N19, 800 despite calls for an upward review by the Nigerian Labour Congress, every other thing has increased. The current wage bill was approved when inflation was at single digit and has since not reflected the rise in the inflation rate to double digit.

For a quick comparison, here’s a list of 10 minimum wage rates across the world.
1. Nigeria - $35 - (N18, 000)
2. Algeria - $135 - (N83, 000)
3. Belgium – $1, 738 - (N810, 000)
4. Cameroun – 36, 270CFA - (38,000)
5. Chad - $120 - (N60,000)
6. Denmark - $1, 820 - (N900, 000)
7. Libya – $430 - (N190, 000)
8. Cote Di’voire – 36, 607CFA
9. Spain - $760 - (N300,000)
10. Luxemburg - $2,500 - (1.1m)

The above was a comparison complied in the first quarter of 2017. Evidently, even many African countries have higher minimum wage than Nigeria which is bad for a country that boasts of itself as the giant of Africa.

A look at one more report
A research report was carried out last year by Lagos-based online platform, Stutern, to determine how much Nigerian graduates earn. After its research, Stutern released surprising (or not too surprising) statistics about the salary distribution of employed graduates. The research made use of data available from 2010-2016. Here’s the statistics they published.

1. 25 percent of employed graduates earn less than N20, 000 monthly.
2. 52 percent of employed graduates earn N20,000 to N50, 000 monthly
3. 15 percent of employed graduates earn N50,000 to N100,000 monthly
4. 6 percent of employed graduates earn N100, 000 to N150, 000 monthly.
5. And only about 2 percent earn above N150, 000.

Would the whole salary structure change in Nigeria soon?
This is one question that many people would wish to answer with a “yes.” However, it may not be so any time soon as the pattern in the statistics released by the Nigerian Bureau of Statistics (NBS) have indicated.

How then can you increase your monthly income?
The above presentation of facts was necessary so you can wake up (if you have been sleeping) to the current reality on ground.
While there’s no guarantee that there would be rapid increment in how much you take home monthly, you actually have the power to increase your income. Quite a number of Nigerians have discovered this fact and have come to terms with it. Rather than sit and lament lament and wish something could change, they took a different approach to earning by working online.

Working online is a tested and trusted way of earning income online. It can serve as an alternative source of income or even your main source of income (if you want it to and work towards it.) You can still work online even if you have your regular job.

While a lot of people have been confused about how to begin, the two reliable ways in which Nigerians have been earning by working...

More: http://www.nigeriaonlinebusiness.com/2018/03/does-your-income-seem-insufficient.html

1 Like 2 Shares

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by koolgee(m): 3:14pm On Mar 02, 2018
Working online has been paying since time immemorial

3 Likes

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by charles2044: 3:15pm On Mar 02, 2018
Ok
Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by orlabass(m): 3:15pm On Mar 02, 2018
Okay

1 Like

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by OboOlora(f): 3:15pm On Mar 02, 2018
2% earn less than $500/month shocked

Even my 17year old cousin doing holiday job at The Children place earns far more than that.

Sh*thole

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by Phelix01(m): 3:16pm On Mar 02, 2018
Ok ooo

5 Likes

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by Iseoluwani: 3:16pm On Mar 02, 2018
.
Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by BIXYBABE(f): 3:19pm On Mar 02, 2018
Intresting
Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by MVLOX(m): 3:19pm On Mar 02, 2018
It's not a lie... But I shame for Naija cha.... Even Chad and Cameroon re beta off.... giANT of Africa indeed..

2 Likes 1 Share

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by ceejay80s(m): 3:19pm On Mar 02, 2018
ORDINARY CHAD?

2 Likes 1 Share

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by Desyner: 3:21pm On Mar 02, 2018
The work-from-home idea over internet looks even more attractive from this side of the divide.
If one is able to earn just $100/month that's $36,000 and more than N-power.

5 Likes

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by SirHouloo(m): 3:24pm On Mar 02, 2018
So we are giant of poverty...

7 Likes

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by mrpeter010(m): 3:32pm On Mar 02, 2018
we don die
Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by Sirtford: 3:32pm On Mar 02, 2018
Contact 07066197826(Whatsapp only) for a reliable online business platform. Please, only serious minded person should contact the number.
Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by Olypeppy(f): 3:33pm On Mar 02, 2018
Are you fucking kidding me.Jeez our corrupt politicians have killed us.They only think about themselves.Jesus take the wheel.

1 Like

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by kayceeD2(m): 3:38pm On Mar 02, 2018
K
Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by tobyemmanuel(m): 3:41pm On Mar 02, 2018
koolgee:
Working online has been paying since time immemorial

Can you put me through this working online thing? I've never been able to find something to do.

I'm a Web developer but I haven't tried much jobs to build my profile.

2 Likes

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by afelele9(m): 4:03pm On Mar 02, 2018
Pls , Am highly interested ,if I can get a reliable source .
Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by micgray100(m): 4:13pm On Mar 02, 2018
I always advice Nairalanders to register a company with CAC. Then open a bank account with it.. From their you are your own boss.. You can work up to any establishment to solicit for contracts..


See my signature trend where I have help more than 200 Nairalanders...

1 Like

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by Nicklaus619(m): 4:15pm On Mar 02, 2018
Luxembourg 1.1million naira shocked . That's it am leaving this country

4 Likes 1 Share

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by obajoey(m): 4:44pm On Mar 02, 2018
On my way out of naija
Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by kokakola: 4:49pm On Mar 02, 2018
Nigeria is not a Bad country per say. We only have Bad Government Structures, Policies and Countrol (3in1).
Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by Teeboi56: 5:01pm On Mar 02, 2018
SirHouloo:
So we are giant of poverty...
Sure
Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by BiafraIShere(m): 5:13pm On Mar 02, 2018
Business is bae!! Say what, so, in other words, yours sincerely belongs to the elite group of those within the top 1 percent cool cool So Nigeria is this destitute, then how come we keep getting the impression from guys and gals here on nairaland on how they are balling, is it with these salaries I'm seeing here shocked shocked. To worsen matters, many of these people are in Lagos where they spend as much as 30k per month on transport!! Chai, there is God o. Well, I'm certainly a big man by sh!thole standard cry cry
Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by lookingfly: 5:30pm On Mar 02, 2018
I am not understanding this minimum wage thing.... You mean 1mill per month for Luxemburg as a worker there compared to naija 18k shocked ......where is the country, am coming right away.

1 Like

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by Godwin2real: 5:40pm On Mar 02, 2018
Need website it can make money online
Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by BiafraIShere(m): 5:41pm On Mar 02, 2018
OboOlora:
2% earn less than $500/month shocked

Even my 17year old cousin doing holiday job at The Children place earns far more than that.

Sh*thole
Hey, not so fast, except your 17 year old cousin earns in dollars and spends in naira tongue tongue If not, then the comparison is baseless! A studio apartment in New York can cost as much as $1000 dollars per month while a room self contained apartment in Lagos costs about #150,000 per annum which is the equivalent of $500 for twelve months rent or $40 per month!! The same applies to energy bills, telephone bills, water bills, gas, tax etc. The cost of living in both countries are not comparable at all. I got the opportunity of travelling to the USA but I turned it down after considering a lot of factors.

2 Likes 1 Share

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by Relixy2k: 5:58pm On Mar 02, 2018
The 18k is even high. There are so many graduate teachers in private schools earning less. Was in such state 6 years ago and still know some who are still there till now. Many cleaning jobs, contract jobs etc pay less ohhh. Suffering abounds in this nation.

2 Likes

Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by sunnyphem(m): 6:27pm On Mar 02, 2018
BiafraIShere:
Hey, not so fast, except your 17 year old cousin earns in dollars and spends in naira tongue tongue If not, then the comparison is baseless! A studio apartment in New York can cost as much as $1000 dollars per month while a room self contained apartment in Lagos costs about #150,000 per annum which is the equivalent of $500 for twelve months rent or $40 per month!! The same applies to energy bills, telephone bills, water bills, gas, tax etc. The cost of living in both countries are not comparable at all. I got the opportunity of travelling to the USA but I turned it down after considering a lot of factors.

u turn wetin down? undecided
BiafraIShere:
Hey, not so fast, except your 17 year old cousin earns in dollars and spends in naira tongue tongue If not, then the comparison is baseless! A studio apartment in New York can cost as much as $1000 dollars per month while a room self contained apartment in Lagos costs about #150,000 per annum which is the equivalent of $500 for twelve months rent or $40 per month!! The same applies to energy bills, telephone bills, water bills, gas, tax etc. The cost of living in both countries are not comparable at all. I got the opportunity of travelling to the USA but I turned it down after considering a lot of factors.

u turn wetin down?
Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by Gbless86: 6:33pm On Mar 02, 2018
micgray100:
I always advice Nairalanders to register a company with CAC. Then open a bank account with it.. From their you are your own boss.. You can work up to any establishment to solicit for contracts..


See my signature trend where I have help more than 200 Nairalanders...
Plz I'm interested can u put me through..?
Re: Does Your Income Seem Insufficient? Here’s How You Can Boost It by Ifyike: 7:24pm On Mar 02, 2018
koolgee:
Working online has been paying since time immemorial
. Pls I need directives on how one can get started on this online business .Really want to know what the online business is all about and what to sell,etc

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