Likins:
To talk is sweet but to put it in action is another thing...ask Fashola on electricity talks

Okay, are you saying that all of us should give up and not worry about a better future?

lionshare:
Dumb people! Start paying 100k minimum and what Inflation sky rocket to a level that will make the 100k less than current 5k. I guess he will increase minimum wage again to 1m...sowore and his gangs needs a crash course on macro economics.

Is that what you were thought in school?

Chatflick:
Making the minimum wage 100K is one thing and the prices of goods being at a decent price is another. You should employ a strategy to ensure the prices of goods is OK cause it is useless earning that amount and spending heavily on goods. Sowore agenda is really great but I feel this isn't his time.

PS: All politicians are LIARS else it won't be called 'Politics' no more.

You are very right and I believe that Sowore has many policies that accompany his N100K proposal.

This is the kind of conversation we should be having, but we also have to believe in the new generation of politicians who have no blood in their hands.

tomtos88:


Too bad u don't read and don't care to find out before u type... Sowore agenda is all about the people at the bottom, which has been neglected, because of bad condition, they have become unproductive, involve in corruptions and generally neglect for work... This 100k minimum wage is to bridgw the gap between the wide difference of those on minimum wage and those on maximum wage, not everyone going to get a raise. Assume it as a new structure of payment that makes the wage structure more reasonable starting from 100k not multiply by 5 like u saying... With Sowore calculations, he will be needing just about 1.6 billion usd yearly to pay this extra... Are u satisfied now?

Yes, EVERYONE must get an equivalent increase. Else, the guys on 100k now will be on 100k with the minimum wage earner. That would be absolute injustice in the name of fighting for justice.

FG wage bill, about 3 years ago was 65b Naira a month (I stand to be corrected on this). That's 780b Naira a year. Multiply that by 5.5 (It should actually be 5.556. I'm being lenient with figures), that would be 4290b (4.29trillion) Naira in annual wage bill alone if minimum wage goes to 100k

Now, this is getting messier because that's almost our annual budget as a nation. Our wage bill was about less than 20% of the annual budget as at 2016 budget. Just being lenient with figures because the figure was actually less than 15%.

As if that's not crazy enough, our 2019 revenue projection is 6.97 trillion Naira. The budget is 8.8trillion. If you add 4 times the current 18k minimum wage annual wage bill to that budget, that would amount to adding 3.12 trillion (over 8b usd) to it the current budget (total will become over 11trillion Naira)

Sowore thinks he needs 1.8b USD extra? LMAO

That's at least times 4.4 the 1.8b USD extra he's talking about just for the extra needed for the new minimum wage

NB: Our current wage bill is already way beyond 65b naira a month because of promotions and new recruitment. That figure is from around 2016. That worsens the actual figure needed to pay that wage

wirinet:


My brother abeg leave them to their ignorance. You are just wasting your time trying to educate people economics 101.
Let them live in their utopia.

Mr Intelligent!

Please show it, let's see what you're made of.

correctguy0900:


Yes it does lead to inflation, it all depends on how much increase at a time. It has to tally with the economic capacity nd productivity.

Obviously, he said we would improve the economy’s productivity and increase the minimum wage.

He’s not just increasing it and Leaving it like that.

Newboss:


Yes, EVERYONE must get an equivalent increase. Else, the guys on 100k now will be on 100k with the minimum wage earner. That would be absolute injustice in the name of fighting for justice.

FG wage bill, about 3 years ago was 65b Naira a month (I stand to be corrected on this). That's 780b Naira a year. Multiply that by 5.5 (It should actually be 5.556. I'm being lenient with figures), that would be 4290b (4.29trillion) Naira in annual wage bill alone if minimum wage goes to 100k

Now, this is getting messier because that's almost our annual budget as a nation. Our wage bill was about less than 20% of the annual budget as at 2016 budget. Just being lenient with figures because the figure was actually less than 15%.

As if that's not crazy enough, our 2019 revenue projection is 6.97 trillion Naira. The budget is 8.8trillion. If you add 4 times the current 18k minimum wage annual wage bill to that budget, that would amount to adding 3.12 trillion (over 8b usd) to it the current budget (total will become over 11trillion Naira)

Sowore thinks he needs 1.8b USD extra? LMAO

That's at least times 4.4 the 1.8b USD extra he's talking about just for the extra needed for the new minimum wage

NB: Our current wage bill is already way beyond 65b naira a month because of promotions and new recruitment. That figure is from around 2016. That worsens the actual figure needed to pay that wage

Your budget is around $35 billion per year.. Do you know how much it was during Shagari in the 1970's?.. about the same amount with inflationary adjustment.

So nothing has changed in Nigeria and they are still stealing the rest of it. Our annual budget is nothing, you go and check what other countries in Africa have.

So, forget your 2018-2019 budget, any serious government will seek to double it and that is what will effectively happen with Sowore in government. And what is laughable about $1.8 billion extra if you double your annual budget, do more tax collection, improve efficiency and enhance production across all spheres.

And don't forget that when you increase your wage bill, you can improve the performance and output of your workforce as well. It is not an impossibility as you people have been conditioned to think. And who do you think was in charge of designing his policies?

Carpenters?

idid:



Sir,

I sense an attempt to discredit Sowore.

Tax collection is not 24% currently, I just did a fact check and it is 6% and the poorest in Africa. So, Sowore is right afterall.

Look at this financial report link below..

https://guardian.ng/business-services/nigerias-tax-gdp-ratio-remains-one-of-the-poorest-in-africa/

You have also confused increasing collection with tax increment. He has not proposed increasing taxes at all, but to improve collection to an effective rate of 17 to 20 percent. Even if we achieve 12 percent, that money can take our people out of poverty.

And no sir if you give more purchasing power to people by increase your minimum wage.. and at the same time increase the quality of your local tourism, education and healthcare.

The middle class will start patronizing the local tourism industry, people will go to Obudu cattle ranch and so on.. ..they will not look for healthcare abroad and will not send their kids to school in Togo, Ghana or London.

That is how to eliminate poverty and that is modern economics..

Tax to GDP ratio is not tax collection rate. What's 6% is our tax to GDP ratio. It's the percentage of the GDP that's from taxes. Meaning only 6% of our GDP comes from taxes. The rest are from other sources like oil, mining, etc.

((Total tax divided by GDP))multiplied by 100).

That's the formula. To increase that figure, either the GDP goes down or the tax collected in a year goes up (while the other stays constant or doesn't change in the reverse direction as much as the other did). To increase tax, you definitely increase the tax rate.

So I see, you don't even understand what he's planning to do.

Also, if you multiply my salary by 5, I will send all my kids to US. I'll buy the latest Benz from US. I'll go to Dubai for vacation every year. The list goes on. Why? I have times 4 as much as I need. I blow that shìt.


Naira will DIE a quick horrible death if that happens. People are using aba made because Gucci ain't cheap compared to how much they earn. The list goes on

It's a vicious cycle of poverty, just that this time, a bread of 300 Naira will become at least 1500 Naira

ItzBIM:

From all the mismanagement of funds like the 200 million security votes each governor gets, block all the leakages of corruption.

The problem with Nigeria is not wealth generation but wealth distribution.

m

Shut up.. 100,000 is not possible for now.. we currently have a budget of 8.612 trillion Naira.. 1.5 million FG workers to earn over N2.3tn. at 30,000 minimum wage.. So you want us to use our budget to pay only salaries for govt workers?

idid:


Your budget is around $35 billion per year.. Do you know how much it was during Shagari in the 1970's?.. about the same amount with inflationary adjustment.

So nothing has changed in Nigeria and they are still stealing the rest of it. Our annual budget is nothing, you go and check what other countries in Africa have.

So, forget your 2018-2019 budget, any serious government will seek to double it and that is what will effectively happen with Sowore in government. And what is laughable about $1.8 billion extra if you double your annual budget, do more tax collection, improve efficiency and enhance production across all spheres.

And don't forget that when you increase your wage bill, you can improve the performance and output of your workforce as well. It is not an impossibility as you people have been conditioned to think. And who do you think was in charge of designing his policies?

Carpenters?

Stop comparing Nigeria of the 90s to today's Nigeria. Our exchange rate was absolutely outstanding then. We basically just left Britain so the Naira and Pounds were "good friends". 1000 naira note and death of coins and 5 Naira set Nigeria up for failure.


No, Sowore needs about $8b extra to add that increment of the 100k a month minimum wage to our 2019 budget. That's times 4.4 of what he told you guys was needed.


That guy has no clue what he's postulating to Nigerians. No ooffence to him at all, he WILL send Nigeria to the gallows. Salaries all over the world are never multiplied by outrageous factors because that's fundamentally suicidal

INFOBIZ3:
m

Shut up.. 100,000 is not possible for now.. we currently have a budget of 8.612 trillion Naira.. 1.5 million FG workers to earn over N2.3tn. at 30,000 minimum wage.. So you want us to use our budget to pay only salaries for govt workers?

Young man...the budget will be increasing by diversing the economy, oil is lazy economy. Give this you man a chance and u won’t regret it.

ItzBIM:


Young man...the budget will be increasing by diversing the economy, oil is lazy economy. Give this you man a chance and u won’t regret it.

You are an economic illiterate.. Na so Dem dey divert economy.. abeg commot.. with people like you, Nigeria can never progress..

tomtos88:
Look at the Nigerian youth they they are fighting for.... They have been so degraded and bastartdized that anything good is alien to them. They prefer to suffer with 30k monthly than support someone which will pay workers and corpers 100k minimum wage... They have no vision, no direction, no ambition... They rather fight someone who will liberate them and support dunce, criminals, thieves, they even have the dumbness of saying, sowore should wait for 2023, as if their suffering and dieing will wait for 2023 before it continues... If h have conscience, Vote AAC, Vote sowore

Bro I am using this thread to make my decision on the black race.... I will go through this thread and rank every response as positive, negative and neutral. If the negative comments outnumber the positives, the next time I see a poor person, I will no longer pity them afterall even if a good leader came they would still reject the leader - so no more pity once I do my scoring and observe the results.

Newboss:


Stop comparing Nigeria of the 90s to today's Nigeria. Our exchange rate was absolutely outstanding then. We basically just left Britain so the Naira and Pounds were "good friends". 1000 naira note and death of coins and 5 Naira set Nigeria up for failure.


No, Sowore needs about $8b extra to add that increment of the 100k a month minimum wage to our 2019 budget. That's times 4.4 of what he told you guys was needed.


That guy has no clue what he's postulating to Nigerians. No ooffence to him at all, he WILL send Nigeria to the gallows. Salaries all over the world are never multiplied by outrageous factors because that's fundamentally suicidal

Okay vote your Atiku and Buhari and good luck. Please do not vent your frustration on the masses when you start getting hardships - nigerians are fond of unleashing their frustrations on fellow citizens in the form of kidnapping, robbery, rituals and violence.

Also please stop complaining things are so hard in Nigeria and I hope you are not planning to go to Europe or North America.

idid:



My brother,

N100k ($280) is well deserved by our workers and you should not listen to anyone saying that it will cause inflation.

Such argument will hold water when there are no growth policies to accompany it.

As it is, Sowore has promised growth in tourism, healthcare, education and so on.
Imagine if our citizens do not take the over billion naira per year abroad for medical tourism, that means that our nurses and doctors can be more productive. That is how production works.
Imagine if we do not all rush to Europe and elsewhere for tourism and go to Obudu, Mambila, Argungu. We go an watch Eyo, Egungun and we all troop to Anambra or Enugu New Yam festival. Then we can boost our local leisure, tourism, travel and hospitality industries and attract more people from abroad.

Imagine, if we can pay teachers well so that they don't go abroad in search of opportunities, that means that we can improve the employability of our youths. That is where production depends.

You people get the concept of "Economic Production" wrong.

It is not simply about buying, or purchasing as such. It is about the effect and the multipliers effect as well. It is also about how the community or a society can balance its supply and demand system, not necessarily through production of goods. In modern economics, you should be concerned about the availability and distribution of services.

What are many Middle Eastern countries producing. What is Europe producing. Britain is only distributing services. When last I checked, Inflation was less than 0.30 percent. Britain's manufacturing sector is less than 4 percent of GDP.

So to refer to your example, if a teacher collects 300,000 per month. It doesn't mean that because there are less goods produced in Nigeria, she will use all of her money to pay for her house rent. That is hyper inflation, and that is Mughabe's kind of careless economics.

What I am saying is that, as long as you have a good healthcare, tourism, education, technology, logistics, and SME sector that is thriving. The economy will do just fine. All of that can be achieved in a short time too.

You should ask how Sowore will improve tourism, technology and the SME sector. If he fumbles in those areas, we can then say that N100k minimum wage is wrong. For me, I case if he will turn Nigeria into a tech, SME and service hub of Africa.

I get what you are saying and we are almost saying thesame thing only that we are saying it differently. Personally my support is for Sowore but the idea of hitting the economy directly with 100k minimum wage at a goal is wrong economically. I know he has an agenda for the country spelt out as SPICER HEAT and its very good and I love his intelligence and boldness but what he ought to have said or planned as regards the minimum wage is to increase it after growing the tourism section, agric section etc of the country to an extent or simply do gradual increment over a period of time. I want you to know that there is economic effect for any infrastructure put in place in the country. Since he has the plan of solving our light issue, security issue etc he should focus on those becos when that happens the economy itself will rebase and shoot up and from there increment can come in. You cant tell me Nigeria will have 247 light and cost of goods and services will not drop. And so many things. So I think it should be value first before volume or they occur simultaneously in a ratio inclined way. Hmmmm Economy is not bread and butter that someone can just say he wants to toil with and see what happens

INFOBIZ3:
m

Shut up.. 100,000 is not possible for now.. we currently have a budget of 8.612 trillion Naira.. 1.5 million FG workers to earn over N2.3tn. at 30,000 minimum wage.. So you want us to use our budget to pay only salaries for govt workers?

The black race represents everything negative in the world today. A man is trying to prevent your people from mass emmigration to any country they can find and from trying to cross into Europe through the Mediterranean and you are here saying how it is not possible for now.

You are enmeshed in the tranquilizing drug of gradualism - if it is not possible for now when will it be possible? After you have been killed on the express by a driver high on weed because of his hardships or by the bus driver overspeeding because he wants to make enough round trips to make ends meet....

Anyway, I commot cap for nigerians sha... such negative people.

After I finish analyzing this thread and voting Sowore, I will no longer pity the poor in this country.

idid:


Okay, are you saying that all of us should give up and not worry about a better future?

idid the average Nigerian opposes anything. If you say something positive 95% of the responses will negate the good thing you said. So even if you say Sowore wants to build hospitals across Nigeria the responses you will get will be we cant afford it, its too expensive, its not the right time, etc. Thats how these people are. As for me, I dont pity them again. Even if Trump wanted to come and rule us, they will say we are a sovereign country, they should mind their business etc.

Nigerians are a difficult people and this is also partly responsible for the failures in this country.

INFOBIZ3:


You are an economic illiterate.. Na so Dem dey divert economy.. abeg commot.. with people like you, Nigeria can never progress..

Lol ......diverse not divert. But ok sha


Vote sowore

idid:


Okay, are you saying that all of us should give up and not worry about a better future?

What I had typed in an earlier response also explains why people will vote Buhari - these peopple reject good things and always go for the worst and afterwards start complaining - its psychosis. No sane and rational Nigerian will vote Buhari yet he is going to get millions of votes despite herdsmen, boko haram and sars etc and most rational thinking Nigerians should not even vote Atiku unless they are ignorant. So Nigerians are the architects of their own woes and therefore deserve no pity....

They then take out their frustrations on fellow Nigerians - that is their modus operandi....

tomtos88:


Its quite obvious u wount admit being uninformed... Who says he wount provide electricity? Security? Fix refinery?

He will produce electrify in a record time of 3 years from the 7k mega watt we have to 24k mega watt. Back to Minimum Wage, this wage isn't to increase everyone's wage, sure, someone who is on 100k will get increase, but the gap will be close greatly. The idea is not to increase wages of those already earning above that amount, but to structure it to be more closely, starting from 100k, some wount be getting a raise at all. So, after u have electrify, and u collecting 30k, wat can u do with 30 K? That's for u to live on 1k daily, where will u get money to pay rent? Taxes? If u have wife? Children? Wat about ur own health? Wount u like to be ur own landlord someday? Our 100k is a living wage, that will enable u to live like a decent human being and still be able to afford the basics of life.

I know his agenda SPICER HEAT and Sowore is who I wish could enter this Saturday but his minimum/living wage idea is wrong Sir. I support him but not that 100k minimum/living wage thing. See economy itself is how money enters and exits based on human behaviour. In economics when you talk about production in an economy you are talking about income money flow (how money move from employers to employees) and consumption money flow (how money move from consumers to producers). See cash flow is like when rain is falling. When rain is in excess, that is, more than the ground and river can contain, flooding will occur. Its a phenomena. No one can beat that. By the time employers start paying 100k as living wage to low employees just know that there will be much outflow of cash towards goods and services in the economy and inflation will result like flooding becos the available goods and services cannot curtail the massive outflow of money. You know he also talked about giving out of loans to build houses after the increment too... infact there will too much money chasing fewer goods and services. Consumption rate will increase. Producers will jack up prices of goods and services too. See the best he can do is to first develop those things you mentioned which are his plans before increasing the minimum wage. I know that Sowore mean well for this country and want to take us out of poverty but that 100k formula will not work. What works is increasing the value of money in the country by providing infrastructure (electricity, refinery etc)and developing human capital which by doing so, Nigeria will have a good living standard and come out of poverty. We all can study South Korea, Singapore, UAE etc... its not by minimum wage is by solving the infrastructural and human capital problem of the country. Then you talk about building your own house and becoming a landlord of urself. Hmmmmm this is wrong in economics becos house, car etc are liabilities.. what we need is asset. We need businesses to get money then after we can build houses. Instead of house loan it should be business load. The country needs business owners and investors and not landlords and car owners. Sowore needs to be advised seriously. You dont build economy on liabilities, you build on assets.

idid:
If we really have to talk about poverty eradication, we must switch quickly and urgently into a state led socialist system with some creative approach attached to it. Maybe we should not call it socialism per se.

But we have been practicing capitalism where all our capital is siphoned. I think that a 100k minimum wage will catalyse the economy by increasing individual GDP per capita and immediately eradicate extreme poverty.

I have seen many argument about a 100k minimum wage causing inflation, and I argue that such argument is nonsense at best. The reason is that such a minimum wage if constructed along other policy measures will in fact increase SME growth, local production and enhance national growth.

For example, I have heard the argument from Sowore that he will grant every worker a 2 million naira housing loan at the national level and support a national mortgage system where worker's will have rights to a mortgage backed by the state. In that sense alone, I see that there will be increase production in the housing sector.

100K is definitely a welcome idea but I think that this should be open to more argument from different people

Does anyone have a constructive contrary opinion as to why it won't work?

I am in support of this 100K as a living wage propose by Sowore/AAC . However, there some issues that must be addressed so as to sustain the payment.
The efficiency and effectiveness of every MDA and individual worker must be taken very seriously.
There must be constant appraisal of workers so that productivity will correspond with payment. Technology must be deployed in this regard and it will eradicate ghost workers.
The issue of corruption and unnecessary bottle necks among MDAs must also be looked into. I will advice there should be a restructuring of the MDAs.

Yankiss:
they fail to understand that you just can't have limitless resources. Where is the money coming from? How many workers do we have? What's our income per Capita and GDP? Guess these people don't even know. It is sad.

Watch his nta the candidates interview he answered all these questions.

vince2016:



I am in support of this 100K as a living wage propose by Sowore/AAC . However, there some issues that must be addressed so as to sustain the payment.
The efficiency and effectiveness of every MDA and individual worker must be taken very seriously.
There must be constant appraisal of workers so that productivity will correspond with payment. Technology must be deployed in this regard and it will eradicate ghost workers.
The issue of corruption and unnecessary bottle necks among MDAs must also be looked into. I will advice there should be a restructuring of the MDAs.

He is proposing N100k payment for civil servants as an interim measure. It can only be a good thing. Civil service jobs will then become hot compared to 30k in private sector - this will reduce civil service bribery as no one wants to lose their job. Thanks for ignoring the naysayers - think positive!

vince2016:



I am in support of this 100K as a living wage propose by Sowore/AAC . However, there some issues that must be addressed so as to sustain the payment.
The efficiency and effectiveness of every MDA and individual worker must be taken very seriously.
There must be constant appraisal of workers so that productivity will correspond with payment. Technology must be deployed in this regard and it will eradicate ghost workers.
The issue of corruption and unnecessary bottle necks among MDAs must also be looked into. I will advice there should be a restructuring of the MDAs.

Absolutely!

I am in agreement with you and this is the kind of conversation that we should be having.

The plan would fail if there are no checks and balances as those you proposed are put in place.

What we then need to ask is whether Sowore is the kind of guy who understands technology and efficiency. Whether he can put resources in place and implement the needed policies and strategies.

Again, I think he is capable and that is why some of us are throwing our hats behind him.

Newboss:


Sowore is an ignorant person. That's his problem.
Let me give it to you:

Effective tax rate is currently at about 24%.

If you raise taxes, companies will simply lay it off on her customers in form of price increase. That's basic economics even sowore (the "future" is ignorant of.

External reserve CANNOT be multiplied by 5 (500% increase) within 4 years. This is not ponzi scheme.

What does external reserve have to do with this? Here it's:

If you give everyone times 5 their spending power overnight, importation WILL increase proportionately. Why? Prices of things WITHIN Nigeria will increase as the spending power of the Nigerian worker increases. So everything cancels out and comes back to as they were in terms of price to wage ratio.

So importation will multiply proportionally. Leading to depletion of our reserves by the same factor. Leading to extremely massive trade deficit.

Naira will be at at least 2k to the USD before that year ends.
I can go on and on

He is not raising tax...he is increasing the collection rate. Companies that collect tax from the workers but don’t pay the federal government.

BigBashiru:

What I had typed in an earlier response also explains why people will vote Buhari - these peopple reject good things and always go for the worst and afterwards start complaining - its psychosis. No sane and rational Nigerian will vote Buhari yet he is going to get millions of votes despite herdsmen, boko haram and sars etc and most rational thinking Nigerians should not even vote Atiku unless they are ignorant. So Nigerians are the architects of their own woes and therefore deserve no pity....

They then take out their frustrations on fellow Nigerians - that is their modus operandi....

Our people are still living under mental slavery I won't lie to you.

Even many of them who have no clue are busy quoting the 1972 economics of their expired politicians. But it is also our duty to educate and enlighten them, otherwise, our image will be soiled as Nigerians when they run to London and America to go an commit all manners of attrocities in the name of hunger, when their Buhari and Atiku starve them to death.

Even if Jesus and Mohammed come and convince them about any new thing, they will call Jesus Jesu Oyingbo and Mohammed, the Mohammed of Mushin. It is no easy task, but we have to keep at it.

ItzBIM:


He is not raising tax...he is increasing the collection rate. Companies that collect tax from the workers but don’t pay the federal government.

That's a lie. Take that to the bank!

You guys are being played. Tax collection rate was not what he was referring to as being at 6%. That's at best a handful of companies. How many companies do we have in Nigeria that deduct taxes that we're talking about tax collection rate?

His plan is to increase tax but he has enough sense not to say it.

idid:


Our people are still living under mental slavery I won't lie to you.

Even many of them who have no clue are busy quoting the 1972 economics of their expired politicians. But it is also our duty to educate and enlighten them, otherwise, our image will be soiled as Nigerians when they run to London and America to go an commit all manners of attrocities in the name of hunger, when their Buhari and Atiku starve them to death.

Even if Jesus and Mohammed come and convince them about any new thing, they will call Jesus Jesu Oyingbo and Mohammed, the Mohammed of Mushin. It is no easy task, but we have to keep at it.

They know what they are doing; Nigerians oppose progress. Its a trend. I submit to you that they are a negative people. Once the results come out, few will vote Sowore - once Sowore realizes that Nigerians are messed up, he wont run again. It is this realization that Nigerians are a negative and retrogressive people that makes them to steal with impunity - would you blame them? Even if someone tried to stop them from stealing, the public wont support that person.

Someone on this forum told me there should be no social security. So if a President steals $400m, why shouldnt the president keep it?? He should keep it because the public dont want that $400m for social security.

So I think in a few months, I will just stop pitying Nigerians and start regarding them as my slaves. These are the same people that sold their kinsmen into slavery.

Olumyco:

I know his agenda SPICER HEAT and Sowore is who I wish could enter this Saturday but his minimum/living wage idea is wrong Sir. I support him but not that 100k minimum/living wage thing. See economy itself is how money enters and exits based on human behaviour. In economics when you talk about production in an economy you are talking about income money flow (how money move from employers to employees) and consumption money flow (how money move from consumers to producers). See cash flow is like when rain is falling. When rain is in excess, that is, more than the ground and river can contain, flooding will occur. Its a phenomena. No one can beat that. By the time employers start paying 100k as living wage to low employees just know that there will be much outflow of cash towards goods and services in the economy and inflation will result like flooding becos the available goods and services cannot curtail the massive outflow of money. You know he also talked about giving out of loans to build houses after the increment too... infact there will too much money chasing fewer goods and services. Consumption rate will increase. Producers will jack up prices of goods and services too. See the best he can do is to first develop those things you mentioned which are his plans before increasing the minimum wage. I know that Sowore mean well for this country and want to take us out of poverty but that 100k formula will not work. What works is increasing the value of money in the country by providing infrastructure (electricity, refinery etc)and developing human capital which by doing so, Nigeria will have a good living standard and come out of poverty. We all can study South Korea, Singapore, UAE etc... its not by minimum wage is by solving the infrastructural and human capital problem of the country. Then you talk about building your own house and becoming a landlord of urself. Hmmmmm this is wrong in economics becos house, car etc are liabilities.. what we need is asset. We need businesses to get money then after we can build houses. Instead of house loan it should be business load. The country needs business owners and investors and not landlords and car owners. Sowore needs to be advised seriously. You dont build economy on liabilities, you build on assets.

I hope you realise that "Goods" in modern economics is not Goods as in the old economics i.e. tangible products.

Goods now refers to services, experiences, tourism, innovation, technology, distribution, travel, arts, tailoring, administration, construction.... etc. etc.. It has no limit. In Saudi Arabia, one of their goods is the annual Hajj pilgrimage, which creates millions of jobs for their citizens. Britain only has technology and financial services, there are only SME's creating and distributing services.

If that is so, what we then need is a busy/service oriented economy where the tourism sector is working, healthcare is functional, education is thriving, food is being produced and processed, people travelling up and down because there is security and safety.

I think the future Nigerian economy will be super marvelous if we can even add manufacturing and production.

Don't worry too much about inflation or gradualism, tokenism, and all that, we don't need that now. Our GDP is over 1 trillion and is sad that we can't pay our workers common $280 per month. It is a shame on us.

As long as people will stop spending their money going to have holiday abroad and instead patronize local tourism.
As long as people send their kids to school here and not Canada or America.
As long as you are sick and don't have to go get treated in India or America.
As long as we can construct more roads and houses, and hospitals, etc. ..We can sustain even 300k salary per month.
These are the modern economic goods. And this is where the value that our currency will come from.


One more thing, Sowore will not increase salaries from day one, he will of course put some stability measures in place. And there will of course be a central bank that will oversee it all.

We need a revolution. Now!

Newboss:


That's a lie. Take that to the bank!

You guys are being played. Tax collection rate was not what he was referring to as being at 6%. That's at best a handful of companies. How many companies do we have in Nigeria that deduct taxes that we're talking about tax collection rate?

His plan is to increase tax but he has enough sense not to say it.

OMG just watch the video even Kadaria thought he said he was increasing tax, but he corrected her immediately.

You Nigerians are just mysterious in ur way of thinking, imaging putting words in someone’s mouth.

idid:



I hope you realise that "Goods" in modern economics is not Goods as in the old economics i.e. tangible products.

Goods now refers to services, experiences, tourism, innovation, technology, distribution, travel, arts, tailoring, administration, construction.... etc. etc.. It has no limit. In Saudi Arabia, one of their goods is the annual Hajj pilgrimage, which creates millions of jobs for their citizens. Britain only has technology and financial services, there are only SME's creating and distributing services.

If that is so, what we then need is a busy/service oriented economy where the tourism sector is working, healthcare is functional, education is thriving, food is being produced and processed, people travelling up and down because there is security and safety.

I think the future Nigerian economy will be super marvelous if we can even add manufacturing and production.

Don't worry too much about inflation or gradualism, tokenism, and all that, we don't need that now. Our GDP is over 1 trillion and is sad that we can't pay our workers common $280 per month. It is a shame on us.

As long as people will stop spending their money going to have holiday abroad and instead patronize local tourism.
As long as people send their kids to school here and not Canada or America.
As long as you are sick and don't have to go get treated in India or America.
As long as we can construct more roads and houses, and hospitals, etc. ..We can sustain even 300k salary per month.
These are the modern economic goods. And this is where the value that our currency will come from.


One more thing, Sowore will not increase salaries from day one, he will of course put some stability measures in place. And there will of course be a central bank that will oversee it all.

We need a revolution. Now!

The people dont want progress. I tried for 10+ years and have given up. The black man only improves under three circumstances:

1. Threat - like Buhari has just threatened ballot snatchers.
2. Severe need - as in things have fallen apart and have hit rock bottom like the Buhari administration has done to the country.
3. Being ruled by foreigners.

Luciferchrist66:
What is this afonja saying?
Sai baba will do it.
We are happy with our 30k

You are happy not us