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| Re: Just In: NLC Rejects N27,000 Minimum Wage by Dootty(m): 9:55pm On Jan 22, 2019 |
theoldpretender:
NLC is not going to get their 30000 minnimum wage....because the government cannot afford it.
Oil yesterday was $62 per barrel. Yes, it is $2 dollars above the minimum set for budget...but it is still far less than our 2017 breakeven price of $140 per barrel.
The breakeven price of oil is the price we need oil to be to have enough revenue to fund a budget sans borrowing, sans deficit.
Since Bubu took over, oil has never been above $75 on average. So, essentially, we are earning at least $70 less than we need per barrel of oil in revenue.
And NLC now wants a salary increase.
The only way NLC gets an increase is either
1.Government cuts things like fuel subsidy, subsidy for educaiton, ...meaning that fees go up,and petrol retails for N250 per liter and above.
2.Government takes a loan to keep essential services running...while it redierects money to pay the wage from other ministries.
3.Yes, they need to cut their allowances. Yes, N1 trillion is a lot of money to spend on our National Assembly...and we need to cut it. But that means that things like constituency projects, etc as well as jobs (senators and reps employ people too) would have to be cut...and I doubt the money would be enough.
Yes, Buhari should have diversified. The problem is,
1.Agriculture has not earned enough cash for us since the early 1980's. To rebuild our capacity in agriculture is going to take time...plus we have very very stiff competition (The South East used to be world leaders in palm oil. Now ...it is Malaysia and Indonesia. Can the SE rebuild its capacity to what it was in the 1960's).
2.Mining too...needs a lot of regulation. There is so much illegality there that cleaning up the sector is going to take years.
The thing is, e no go easy to pay this minimum wage. I hear people shouting Governemt is corrupt...and yes, they are right. The current government is not exempt from corruption. But even if we removed corruption....giving everyone an increase is not going to help.
Add the fact that the increase is for government workers only. Meaning..the private sector is going to come under pressure to match the public sector...increasing costs for a sector that is already finding it hard in Nigeria.Meaning...long term..investments get pulled out...jobs get lost.
So,let's face facts Nigeria...this country is not rich...and we need to make the hard choices to adjust to that fact. If NLC expects govt to fund a salary raise with oil prices that are too low to fund it...then they better get ready for more loans, or cuts elsewhere.
Either Nigeria takes the hard ro0ad to industrial development, or we keep on with our silly sharing money economics that we have been doing since 1960. ...which is why we are still underdeveloped.
I don talk my own. Waiting for oil to reach 140 dollars as break even price is very tall dream. Let me on what indices was the break even price calculated because I know oil selling above 60 dollars is anomaly that wouldn't last. Even when oil sold below 30 dollars, US shale oil producers were still making a profit despite having the highest cost of production so stop this lame excuse of break even price. It's simply wishful thinking and fool paradise cause it's never going to happen. So no break even price but PMB can cut his bald for 80 million naira annually abi. 1 Like |
| Re: Just In: NLC Rejects N27,000 Minimum Wage by Nobody: 10:03pm On Jan 22, 2019 |
Yankee101:
Parking in front of a bank is not allowed for security reasons he should have said close to rather 1 Like |
| Re: Just In: NLC Rejects N27,000 Minimum Wage by gm64888: 10:09pm On Jan 22, 2019 |
Guys this elected politician thieft they take us for granted.We elected them into offices but they turn us fools.Guys please howmuch is #30,000 they are saying they cant pay,even their dogs at home he eat more than #30,000 a month talkless of them who their 1day allowance is even above #30,000 not even talk about their monthly salary..GUYS THIS IS TIME FOR CHANGE I HAVE MY PVC PLS HOLD YOUR PVC VOTE WISELY.. |
| Re: Just In: NLC Rejects N27,000 Minimum Wage by gm64888: 10:19pm On Jan 22, 2019 |
gm64888:
Guys this elected politician thieft they are taking ur for granted.We elected them into offices but they are turnings us fools.Guys please howmuch is #30,000 they are saying they cant pay,even their dogs at home he eat more than #30,000 a month talkless of them who their 1day allowance is even above #30,000 not even talk about their monthly salary..GUYS THIS IS TIME FOR CHANGE I HAVE MY PVC VOTE WISELY.. |
| Re: Just In: NLC Rejects N27,000 Minimum Wage by Nobody: 10:49pm On Jan 22, 2019 |
somehow:
Is Federal government the one to decide what state will pay?  Isn't the federal government that allocate fund to them |
| Re: Just In: NLC Rejects N27,000 Minimum Wage by SheikhMuniru(m): 11:20pm On Jan 22, 2019 |
What Is The Important Of Nigeria Economy Self, Make We Kuku Shut Everything Down Biko |
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| Re: Just In: NLC Rejects N27,000 Minimum Wage by Ellie01: 12:55am On Jan 23, 2019 |
Blacksodje:
Is less than $100 to much to be paid to as Nigerian worker at the end of the month?
Why drag #3000 with NLC as if say una dey price tomatoes for mile12 market. The 3k can contibute to buy PVC for the interim. |
| Re: Just In: NLC Rejects N27,000 Minimum Wage by Ellie01: 1:10am On Jan 23, 2019 |
theoldpretender:
NLC is not going to get their 30000 minnimum wage....because the government cannot afford it.
Oil yesterday was $62 per barrel. Yes, it is $2 dollars above the minimum set for budget...but it is still far less than our 2017 breakeven price of $140 per barrel.
The breakeven price of oil is the price we need oil to be to have enough revenue to fund a budget sans borrowing, sans deficit.
Since Bubu took over, oil has never been above $75 on average. So, essentially, we are earning at least $70 less than we need per barrel of oil in revenue.
And NLC now wants a salary increase.
The only way NLC gets an increase is either
1.Government cuts things like fuel subsidy, subsidy for educaiton, ...meaning that fees go up,and petrol retails for N250 per liter and above.
2.Government takes a loan to keep essential services running...while it redierects money to pay the wage from other ministries.
3.Yes, they need to cut their allowances. Yes, N1 trillion is a lot of money to spend on our National Assembly...and we need to cut it. But that means that things like constituency projects, etc as well as jobs (senators and reps employ people too) would have to be cut...and I doubt the money would be enough.
Yes, Buhari should have diversified. The problem is,
1.Agriculture has not earned enough cash for us since the early 1980's. To rebuild our capacity in agriculture is going to take time...plus we have very very stiff competition (The South East used to be world leaders in palm oil. Now ...it is Malaysia and Indonesia. Can the SE rebuild its capacity to what it was in the 1960's).
2.Mining too...needs a lot of regulation. There is so much illegality there that cleaning up the sector is going to take years.
The thing is, e no go easy to pay this minimum wage. I hear people shouting Governemt is corrupt...and yes, they are right. The current government is not exempt from corruption. But even if we removed corruption....giving everyone an increase is not going to help.
Add the fact that the increase is for government workers only. Meaning..the private sector is going to come under pressure to match the public sector...increasing costs for a sector that is already finding it hard in Nigeria.Meaning...long term..investments get pulled out...jobs get lost.
So,let's face facts Nigeria...this country is not rich...and we need to make the hard choices to adjust to that fact. If NLC expects govt to fund a salary raise with oil prices that are too low to fund it...then they better get ready for more loans, or cuts elsewhere.
Either Nigeria takes the hard road to industrial development, or we keep on with our silly sharing money economics that we have been doing since 1960. ...which is why we are still underdeveloped.
I don talk my own. What break even price are u talking about? Already nigeria has one of the lowest oil production cost worldwide....or is d money goin to be derived from some new project when it starts making money? Govt only wants to keep money down for its excesses, minimum wage is so small, @ $75 monthly. The IOCs make too much from d joint venture agreements , hence renegotiate and take back more money. Femi falana, said nigeria made $104 billion oil sales in 2018, only $38 billion came to nigeria. This suggestion of more debts to fund consumption is bad. |
| Re: Just In: NLC Rejects N27,000 Minimum Wage by allthingsgood: 5:19am On Jan 23, 2019 |
babecode:
National Council of State,what will you gain by ‘cutting 3k from 30k’,in a nation where even Government agencies are declaring ‘record breaking’ Billions and trillions in revenues Fg is still paying the 30k shortfall. Its the governors that rejected the entire 30k |
| Re: Just In: NLC Rejects N27,000 Minimum Wage by bantudra: 7:32am On Jan 23, 2019 |
theoldpretender:
NLC is not going to get their 30000 minnimum wage....because the government cannot afford it.
Oil yesterday was $62 per barrel. Yes, it is $2 dollars above the minimum set for budget...but it is still far less than our 2017 breakeven price of $140 per barrel.
The breakeven price of oil is the price we need oil to be to have enough revenue to fund a budget sans borrowing, sans deficit.
Since Bubu took over, oil has never been above $75 on average. So, essentially, we are earning at least $70 less than we need per barrel of oil in revenue.
And NLC now wants a salary increase.
The only way NLC gets an increase is either
1.Government cuts things like fuel subsidy, subsidy for educaiton, ...meaning that fees go up,and petrol retails for N250 per liter and above.
2.Government takes a loan to keep essential services running...while it redierects money to pay the wage from other ministries.
3.Yes, they need to cut their allowances. Yes, N1 trillion is a lot of money to spend on our National Assembly...and we need to cut it. But that means that things like constituency projects, etc as well as jobs (senators and reps employ people too) would have to be cut...and I doubt the money would be enough.
Yes, Buhari should have diversified. The problem is,
1.Agriculture has not earned enough cash for us since the early 1980's. To rebuild our capacity in agriculture is going to take time...plus we have very very stiff competition (The South East used to be world leaders in palm oil. Now ...it is Malaysia and Indonesia. Can the SE rebuild its capacity to what it was in the 1960's).
2.Mining too...needs a lot of regulation. There is so much illegality there that cleaning up the sector is going to take years.
The thing is, e no go easy to pay this minimum wage. I hear people shouting Governemt is corrupt...and yes, they are right. The current government is not exempt from corruption. But even if we removed corruption....giving everyone an increase is not going to help.
Add the fact that the increase is for government workers only. Meaning..the private sector is going to come under pressure to match the public sector...increasing costs for a sector that is already finding it hard in Nigeria.Meaning...long term..investments get pulled out...jobs get lost.
So,let's face facts Nigeria...this country is not rich...and we need to make the hard choices to adjust to that fact. If NLC expects govt to fund a salary raise with oil prices that are too low to fund it...then they better get ready for more loans, or cuts elsewhere.
Either Nigeria takes the hard road to industrial development, or we keep on with our silly sharing money economics that we have been doing since 1960. ...which is why we are still underdeveloped.
I don talk my own. something i saw about corruption is,its all over the world...western nations are corrupt too,and i can say that with experience... its just about more or less....completly get rid of it,is not possible.... where human beings are,their will be corruption.... the problem is,everybody want a nice job...a seller,office worker,goverment,politics,dancer,singer...how many of us are plumbers,farmers,backers,street cleaners,electrician,construction workers,this are jobs that realy make hard money and not sitting in a office thinkin about how to scam hardworkin people....good example is cownunu.... nigerian mentality is bullshitt... in africa we have people that learn arts but nothing technologie....no real innovations...thats why we keep on stagnating.... 1 Like |
| Re: Just In: NLC Rejects N27,000 Minimum Wage by haajhirakeem(m): 8:46am On Jan 23, 2019 |
Na tomatoes dem dey price oh.
For ur TILING works WALLPAPERS and others, hit me up on 08089308088 or at haajhirajo@live.com. |
| Re: Just In: NLC Rejects N27,000 Minimum Wage by sheltergreen: 9:03am On Jan 23, 2019 |
Meanwhile... 
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| Re: Just In: NLC Rejects N27,000 Minimum Wage by somehow: 8:02pm On Jan 23, 2019 |
Does this make sense to you? Because your "employer" pays you salary, he can dictate how you spend it? Which Nigerian law gives FG right to fix salaries for state workers? asuustrike1:
Isn't the federal government that allocate fund to them |
| Re: Just In: NLC Rejects N27,000 Minimum Wage by Nobody: 10:24pm On Jan 23, 2019 |
somehow:
Does this make sense to you? Because your "employer" pays you salary, he can dictate how you spend it? Which Nigerian law gives FG right to fix salaries for state workers? The law states that the state share in the revenue generated. Each state get revenue based on revenue formula from the federation account. Aside the federation account they get other benefits too plus the IGR. Don't let those governors deceive you with laws. When it comes to labour matter they quote constitution but when it gets to revenue sharing they keep quiet |
| Re: Just In: NLC Rejects N27,000 Minimum Wage by somehow: 10:55pm On Jan 23, 2019 |
You're beating about the bush. WHICH LAW GIVES FG THE POWER TO DICTATE HOW MUCH STATES SHOULD PAY THEIR WORKERS? asuustrike1:
The law states that the state share in the revenue generated. Each state get revenue based on revenue formula from the federation account. Aside the federation account they get other benefits too plus the IGR. Don't let those governors deceive you with laws. When it comes to labour matter they quote constitution but when it gets to revenue sharing they keep quiet |
| Re: Just In: NLC Rejects N27,000 Minimum Wage by Nobody: 11:07pm On Jan 23, 2019 |
somehow:
You're beating about the bush. WHICH LAW GIVES FG THE POWER TO DICTATE HOW MUCH STATES SHOULD PAY THEIR WORKERS? |
| Re: Just In: NLC Rejects N27,000 Minimum Wage by Nobody: 11:13pm On Jan 23, 2019 |
somehow:
You're beating about the bush. WHICH LAW GIVES FG THE POWER TO DICTATE HOW MUCH STATES SHOULD PAY THEIR WORKERS? No law. |
