Fuel increase from N185 to N490 is 265% increase. This simply imply that minimum wage need to catch up the fuel price. Hence, a commensurate increase of wages to N80,000 plus cost of living allowance of N20,000.

Anyone not willing to pay should be picketed into resigning. We all want fuel subsidy to end, but you cannot increase cost of fuel that government sell, yet the people dource of income remain stagnant

State governors will not pay, the 30,000 is even an issue in some of States

Minimum wage is a ruse , when minimum wage becomes 100k it would still buy just the same things your 30k buys today, the trick is to improve purchasing power and not increase minimum wage

That basically means the power of Naira will be drastically reduced, 10 and 20 naira note will be useless and there will be 2000 note or 5000. We are indeed in serious sh*t.

SalamRushdie:
Minimum wage is a ruse , when minimum wage becomes 100k it would still buy just the same things your 30k buys today, the trick is to improve purchasing power and not increase minimum wage

Rubbish.

What are you saying exactly.

SalamRushdie:
Minimum wage is a ruse , when minimum wage becomes 100k it would still buy just the same things your 30k buys today, the trick is to improve purchasing power and not increase minimum wage

100k not enough as the multiple effect will affect the pay

Trust me, there will be sacks

Some of you that lack basic knowledge of Economics will open months to say some strange things at times. You think increasing wages of workers is the solution to this matter? No, brother. No!!

SHOULD BE N50000.
N100'000 TOO MUCH.
AND WE WANT A UNIFIED EXCHANGE RATE OF N100 TO $1.

MisterBanny:
Some of you that lack basic knowledge of Economics will open months to say some strange things at times. You think increasing wages of workers is the solution to this matter? No, brother. No!!

Mr Econometrics, what is your opinion or suggestion? Arm chair analyst with nothing to offer, only out to discredit opinions and suggestions.

orisa37:
SHOULD BE N50000.
N100'000 TOO MUCH.
AND WE WANT A UNIFIED EXCHANGE RATE OF N100 TO $1.

U said nothing at the end

MisterBanny:
Some of you that lack basic knowledge of Economics will open months to say some strange things at times. You think increasing wages of workers is the solution to this matter? No, brother. No!!

More like you said nothing.


Yes i think minimum wages need to be increased to 80k or 100k

Just leave them, them never know the kind forces them dey create for themselves

NaijaCowFarm:
Fuel increase from N185 to N490 is 265% increase. This simply imply that minimum wage need to catch up the fuel price. Hence, a commensurate increase of wages to N80,000 plus cost of living allowance of N20,000.

Anyone not willing to pay should be picketed into resigning. We all want fuel subsidy to end, but you cannot increase cost of fuel that government sell, yet the people dource of income remain stagnant

SalamRushdie:
Minimum wage is a ruse , when minimum wage becomes 100k it would still buy just the same things your 30k buys today, the trick is to improve purchasing power and not increase minimum wage

Exactly. It isn't about the volume of money in hand but what can be exchanged with the money. That's why there has to be a concerted drive to increase production from LG to state to FG level. Industrials estates, state owned industries, state subsidized industries, stakes in strategic multinationals, industries and within the right industries.

Not buying of bonds and taking heavy loans.

KingOfIsoko1:
U said nothing at the end

I SAID VOLUMES. SOW BEFORE YOU REAP. MR PRESIDENT ASKS, "WHERE IS THE REVENUE FROM WHERE YOU WANT TO GET N100'000 MONTHLY "?

REDUCE THE EXCHANGE TO N100 TO $1, THEN YOU'LL STOP THE LOSS AND CRAZE FOR DOLLARS AND THE IDEA OF TWO OR MORE CURRENCIES CIRCULATING SIMULTANEOUSLY IN NIGERIA.

AJAERO IS A DOG OF THE PEOPLE. LET HIM THINK LIKE OSHOMHOLE USED TO THINK. NIGERIA IS COLLAPSING. BUHARI AND E-MEFIELE HAVE KILLED NIGERIA.

So will you and NLC management be paying your househelp and gateman at least N100,000 per month?


They should keep the N30k and make the naira recover its value.

Peter Obi promised upto 100k as minimum wage as well as removal of fuel subsidy.

Increasing the wages to 100K should not be problem to the FG since the subsidy used in paying previously is in trillions quarterly.

The state gov should demand their share of fund from previous subsidy to offset the increment in the pay of their civil service as well.

They should not accept lame excuse of subsidy not being paid for. Where ever the money was being sourced from must be shared among the FG n states if they are wise or on worse case scenario they ensure FG open an account where what should have been subsidy payment accrue to n come up with a sharing ratio since the FG is abandoning it's responsibility on subsidy payment to them n the citizens at large.

This will eliminate FG paying for subsidy n ensure the state do not inherit the liabilities of rising wages without complimentary resource to mitigate such. The FG will simply not be having as much as it tot to save n the state will not be over burden too.

NaijaCowFarm:


Mr Econometrics, what is your opinion or suggestion? Arm chair analyst with nothing to offer, only out to discredit opinions and suggestions.

MisterBanny:
Some of you that lack basic knowledge of Economics will open months to say some strange things at times. You think increasing wages of workers is the solution to this matter? No, brother. No!!

Wages can’t remain the same sir. It has to be increased to reflect current realities.
Someone earns 50k and has been on the salary for donkey years,transportation used to be 50 naira,due to inflation,transportation increased to 100 naira,later it increased to 150 naira and now it’s 200 naira,on the same 50k salary.
It’s not only transportation, other essential commodities especially food has increased as well but the salary remains 50k,how is such human being expected to survive?
Wages has to be increased sir.majority of Nigerians are just struggling to survive.

MisterBanny:
Some of you that lack basic knowledge of Economics will open months to say some strange things at times. You think increasing wages of workers is the solution to this matter? No, brother. No!!

Enlighten us. What is the solution.

NigerianAngelo:
So will you and NLC management be paying your househelp and gateman at least N100,000 per month?

They should keep the N30k and make the naira recover its value.

I pay my driver 120k, which by the way is minimum wage to me. If you cannot pay, drive yourself, you do not need house help when you cannot pay.

Minimum wage of N100k is about $133 at current official exchange rate. During GEJ, N30k was equivalent to $183, so even at that the people are poorer.

Those asking how can government pay, have forgotten that government was paying over Trillions on subsidy. Half of that money is all they need to cover the new wages. If you priced petrol in $, common sense demands that you also match wages to the same $

Instead of you to demand that governors should get responsible and responsive without that nothing will happen

NaijaCowFarm:

I pay my driver 120k, which by the way is minimum wage to me. If you cannot pay, drive yourself, you do not need house help when you cannot pay.

Minimum wage of N100k is about $133 at current official exchange rate. During GEJ, N30k was equivalent to $183, so even at that the people are poorer.

Those asking how can government pay, have forgotten that government was paying over Trillions on subsidy. Half of that money is all they need to cover the new wages. If you priced petrol in $, common sense demands that you also match wages to the same $

1. Will you enforce it in the North? In your neighborhood? (Ask them).

2. Can all work yield more than 1.3x the "N100,000" productivity monthly? -- Gatemen, Private teachers, etc


If I were President, I will set a figure I can enforce , not some select salary for 5%.

The current task is to regain purchasing power (increased production, business environment, petroleum production & fx, loot recovery, better productivity...)

Hopefully by 12 months #30K = $100+ ($130, $150, $200)


Being able to ensure people even universally earn the #30K, at reasonable purchasing power is the main focus.

sokeril:

Wages can’t remain the same sir. It has to be increased to reflect current realities.
Someone earns 50k and has been on the salary for donkey years,transportation used to be 50 naira,due to inflation,transportation increased to 100 naira,later it increased to 150 naira and now it’s 200 naira,on the same 50k salary.
It’s not only transportation, other essential commodities especially food has increased as well but the salary remains 50k,how is such human being expected to survive?
Wages has to be increased sir.majority of Nigerians are just struggling to survive.

How about setting up a price regulatory body that will checkmate the activities of the middle men? An increase in wages will further lead to an increase in prices of goods and services

orisa37:


I SAID VOLUMES. SOW BEFORE YOU REAP. MR PRESIDENT ASKS, "WHERE IS THE REVENUE FROM WHERE YOU WANT TO GET N100'000 MONTHLY "?

REDUCE THE EXCHANGE TO N100 TO $1, THEN YOU'LL STOP THE LOSS AND CRAZE FOR DOLLARS AND THE IDEA OF TWO OR MORE CURRENCIES CIRCULATING SIMULTANEOUSLY IN NIGERIA.

AJAERO IS A DOG OF THE PEOPLE. LET HIM THINK LIKE OSHOMHOLE USED TO THINK. NIGERIA IS COLLAPSING. BUHARI AND E-MEFIELE HAVE KILLED NIGERIA.

Oga, with all due respect stop posting the bolded. You do not understand economic of exchange rates. You do not just wake up and say $ is now N100. That is a fiat and your economy will collapse in 24 hrs. FX is driven by demand and supply. If your supply exceeds your demand $ will naturally fall. Stop thinking like Ojuyobo who speaks before thinking.

Very Considerate of them...



I'm more like 200 to 250k

MisterBanny:


How about setting up a price regulatory body that will checkmate the activities of the middle men? An increase in wages will further lead to an increase in prices of goods and services

So, you send price regulator to go and force yam farmer in Benue to sell his farm produce for shishi, then the transporter will buy fuel at N560, you will also force him to drive it and collect N150, then, you will force the market woman whose only source of livelihood is the market shop to sell it at give away price. You try gan! Congratulations!!!

Ojuyobo is ruthless and righteous. That's good for Democracy. He wants to "DENOMINATE" the exchange rate. That is better.