Can someone please tell me how Nigeria is the giant of Africa? the average S.A minimum wage is R14,290 over 105,000 Nigerian Naira. while in Nigeria our Politicians are angered that its citizens are asking for paltry 30,000 Nigerian Naira.

The Gross Domestic Product (GDP) in South Africa was worth 349.42 billion US dollars. while that of Nigeria is 375.77 billion US dollars all in 2017.

lol..

Bro, I am all up for a huge increase in our minimum wage but don't go comparing ours with S.A's please..If you must, i implore to check up on what the South African minimum wage can purchase in S.A, or better still compare prices of stuffs like bag of rice and cost of a liter of petrol in S.A to get a better understanding of what i'm driving at.

We don't have Politicians but Polithieftians



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daddytime:
lol..

Bro, I am all up for a huge increase in our minimum wage but don't go comparing ours with S.A's please..If you must, i implore to check up on what the South African minimum wage can purchase in S.A, or better still compare prices of stuffs like bag of rice and cost of a liter of petrol in S.A to get a better understanding of what i'm driving at.

Guy price of petrol in s.a R17.08 per litre, listen you can't compare S.A to Nigeria in any way.. okay let imagine that one gets paid in rands and he quickly converts his rands to dollars which is about 290 dollars with the minimum wage bros person fit survive.Nigeria is bleeped up!

People are mostly distracted by the figures which a paper note or general tender bears without considering the value or purchasing power of a money in an economy.

Agreed, the Nigerian minimum wages has to be increased but cost of living must be beaten not to jump up.

Who cares if Nigerian workers are paid 1k at minimum if that amount can fetch me basic needs of life (food, shelter, clothing and proper healthcare) and standard of life..

darthv:

Guy price of petrol in s.a R17.08 per litre, listen you can't compare S.A to Nigeria in any way.. okay let imagine that one gets paid in rands and he quickly converts his rands to dollars which is about 290 dollars with the minimum wage bros person fit survive.Nigeria is bleeped up!

Bros, this is what a liter of petrol in S.A will give you in Naira 430.818 going by what you posted above. This is just petrol o...now do the maths

The South African economy is also diversified as well...meaning they have a strong manufacturing base, a strong commercial farming base, both of which export massively....and let's not forget the diamond, gold and platinum bit.

Nigeria? All we rely on is oil. As for agric, less than 10% of our farming is done on largescale commercial farms. Industry exists in Nigeria...barely, and it does not export anything (not even during the good old days of the 1970's and 80's.).

But mind you, SA has a large poor underclass most of whom earn way below minimum wage. As does Nigeria.

darthv:
Can someone please tell me how Nigeria is the giant of Africa? the average S.A minimum wage is R14,290 over 105,000 Nigerian Naira. while in Nigeria our Politicians are angered that its citizens are asking for paltry 30,000 Nigerian Naira.

The Gross Domestic Product (GDP) in South Africa was worth 349.42 billion US dollars. while that of Nigeria is 375.77 billion US dollars all in 2017.

Yes...until you realize that SA has less than 50 million people. Nigeria has 200 million people.

Two men earn a salary of N150000, one has a wife and two children, the other has two wives, eleven children and two dependents. Tell ,e which family would look more prosperous.

Agreed our politicans are corrupt...but to be frank...we also have to massively increase our earning power.

Sowore is your man
100k living wage
Which is spent in the country, which then help economy grow.

darthv:

Guy price of petrol in s.a R17.08 per litre, listen you can't compare S.A to Nigeria in any way.. okay let imagine that one gets paid in rands and he quickly converts his rands to dollars which is about 290 dollars with the minimum wage bros person fit survive.Nigeria is bleeped up!

One minute you were comparing SA and Nigeria's GDP...the next minute you are saying that SA should not be compared to Nigeria...

Okay.

Fuel is high in SA (as someone said N430 per liter) largely because SA is not an oil producing country. And they don't do subsides. They have refineries...which they use to refine imported crude.


Again, if we want to be like SA, we have to develop an industrial economy that exports stuff. That means a long period of austerity as we focus on power and infrastructure, and stop spending money on frivolous stuff...and corruption has to go.(Nigerians, unfortunately fight corruption when it is not their person involved).

We also have to thoroughly regulate our solid minerals sector. We have lots of minerals, which guys just mine anyhow, and sell , and don't pay taxes or do community development. Nigeria loses billions.

And we need to do large scale farming. Subsistence farming can only take us that far.

We got work to do.

Shedrack080:
*FLIP CASH INVESTMENT*

You this man....you want to be like your lord and Savior Mavordi...

Abeg...take your MMM story elsewhere.

daddytime:


Bros, this is what a liter of petrol in S.A will give you in Naira 430.818 going by what you posted above. This is just petrol o...now do the maths

you are forgetting that Nigerian petrol is highly subsidized

theoldpretender:


One minute you were comparing SA and Nigeria's GDP...the next minute you are saying that SA should not be compared to Nigeria...

Okay.

Fuel is high in SA (as someone said N430 per liter) largely because SA is not an oil producing country. And they don't do subsides. They have refineries...which they use to refine imported crude.


Again, if we want to be like SA, we have to develop an industrial economy that exports stuff. That means a long period of austerity as we focus on power and infrastructure, and stop spending money on frivolous stuff...and corruption has to go.(Nigerians, unfortunately fight corruption when it is not their person involved).

We also have to thoroughly regulate our solid minerals sector. We have lots of minerals, which guys just mine anyhow, and sell , and don't pay taxes or do community development. Nigeria loses billions.

And we need to do large scale farming. Subsistence farming can only take us that far.

We got work to do.

Comfirm

darthv:
you are forgetting that Nigerian petrol is highly subsidized

And rice is subsidized too?? Check the price of rice in SA

daddytime:


And rice is subsidized too?? Check the price of rice in SA

Seems like south africans dont eat rice like us.couldnt findany good price

darthv:

Seems like south africans dont eat rice like us.couldnt findany good price

You can as well look up any other commodity or check out the average cost of house rents.

its stvpid to compare nigeria with south africa....believe it or not south africa have their problems too....

over their is not paradies either....

dont go foolin yourselfs and end up like in lbya.....

South Africa EARNS MORE MONEY than Nigeria per annum.

South Africa's annual budget is USD 103.3 BILLION

Nigeria's annual budget is USD 22 BILLION

https://en.wikipedia.org/wiki/List_of_countries_by_government_budget

South Africa has a diversified economy. Nigeria is still a mono-product economy, although in the process of diversification.

Nigeria has no money my brother

:-

darthv:
Can someone please tell me how Nigeria is the giant of Africa? the average S.A minimum wage is R14,290 over 105,000 Nigerian Naira.

Fact Check
The new minimum wage is R3500 (N88 305) and not R14 290, although the unions are seeking R12 500 (N315 375).

The Rand/Naira exchange rate is currently 25.23.

President Ramaphosa has promised that R3500 is just the starting point & will grow in line with further economic growth towards the N315 000 mark.

theoldpretender:


But mind you, SA has a large poor underclass most of whom earn way below minimum wage. As does Nigeria.

These are the exact people that the minimum wage is targeting: the so-called "working poor". The new minimum wage will raise 6 million of them out of poverty.

Also bear in mind that SA has a comprehensive social welfare system for the poor including child grants & pensions, free housing, free education & free basic healthcare. There is also 0% VAT (tax) on consumer goods most used by the poor.

So it can be argued SA spends more on its citizens than Nigeria does. So the least 9ja should do is offer a decent minimum wage.