Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,150,008 members, 7,806,934 topics. Date: Wednesday, 24 April 2024 at 07:14 AM |
Nairaland Forum / Nairaland / General / Politics / FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? (22542 Views)
Why Is Our Minimum Wage Stagnant? / Victor Isaiah Escapes Mishap As Soldiers Invade His House During PDP Meeting / See How Atiku Was Mobbed In Kaduna During PDP Campaign (2) (3) (4)
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by atheistandproud(m): 10:17pm On Jun 07, 2023 |
Nigeria needs to beg Jonathan for forgiveness 2 Likes |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by LAXconfidential(m): 10:18pm On Jun 07, 2023 |
Lanre1st: That same guys posts has been used to judge Obi and Atiku severally and I'm sure you had a filled day with it. Its now you know he's irrelevant. Dey play. 1 Like |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by mechanics(m): 10:18pm On Jun 07, 2023 |
LAXconfidential:hahahahah |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by Evergreen4(m): 10:24pm On Jun 07, 2023 |
Who said PDP didn't increase NYSC allawee. I remember my set in batch B 2011 was the first set to receive 19,800 naira cash after 3 weeks orientation camp. 2 Likes |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by fbabs(m): 10:25pm On Jun 07, 2023 |
izonborn098:Congratulations 1 Like |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by Paramount01(m): 10:37pm On Jun 07, 2023 |
[quote author=Up9ja post=123641010]APC is the worst thing to ever happen to this country [/quotev That was what your pastor told you? |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by shonepa(m): 10:41pm On Jun 07, 2023 |
To be sincere, alot of factors determine, weather minimum wage is to be increased. For example; the economy needs to be balanced, there is no point of increasing minimum, where commodities re extremely on the high. INFLATION....simple. Acekidc4: |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by bizhop01: 10:42pm On Jun 07, 2023 |
Nigeria minimum wage should be at least $100 |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by Acekidc4(m): 10:45pm On Jun 07, 2023 |
shonepa: Good, That's the Keyword, INFLATION...............That will be the main problem. Isn't there a way around it?? |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by StudentsNG: 10:53pm On Jun 07, 2023 |
N18,000 in 2011 ($1 = N155) is many times more valuable than N30,000 in 2023 ($1 = N760). APC in fact killed Nigeria. Take it or leave it. 3 Likes |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by grandstar(m): 11:29pm On Jun 07, 2023 |
Let's ask a much better question Did PDP increase the minimum wage in "real terms" during their 16 years in power. Real terms means a lot to economists and should mean a lot of unions as well but prefer to remain ignorant. When PDP took over in 1999 when OBJ took over, they met it at 3,000. At that time, the exchange rate was about $1-N100 which was $30 in purchasing power In 2001, it was increased to N7,500 for federal workers and 5,500 for state workers. Then the exchange rate was $1-150, so that was $50 in purchasing power However, by 2007, the exchange rate was $1-122 which would be around $60 in purchasing power. In 2010, the minimum wage was increased to 18,000. The exchange rate then was $1-160. That is $112.50 in purchasing power. This was more than double the highest rate during OBJ presidency. By May, 2015 when Jonathan was to handover, the exchange rate had fallen to around 216 which would give us $83.33 So, we can rightly say that wages did increase not just in nominal terms but in real terms during the 16 years of PDP rule Starting at $30 when they assumed office and achieved its highest of $112.50 in and then coming down to $83.3 on the handover date , 29th May, 2015. So, we can state that the minimum wage more than doubled in real terms Please note I used the black market rate and not the official rate. I did not want to sugar-coat things by using the official exchange rate. The black market rate is more ideal as that's what goods and services in the economy are priced at. If you want me to do likewise for the Buhari's 8 year rule, please let me know. 6 Likes 2 Shares |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by VeeVeeMyLuv(m): 11:38pm On Jun 07, 2023 |
Acekidc4:This is the best time to increase the min wage The reason being that everyone's attention, including the various segment of the market, inflation, are all focused on fuel subsidy removal. No one will notice. 1 Like |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by grandstar(m): 11:47pm On Jun 07, 2023 |
Acekidc4: I have always suggested it is best to increase workers salaries just a bit. What the government should do is to lift the ban on the importation of poultry products and replace than with a low import duty. This will bring down the cost of poultry products and make it affordable. The same should be done with rice. Nigeria has no comparative advantage with rice production. For us to be self sufficient, we have to ban the importation of cheap rice and force Nigerians to purchase the far more costly locally made one. Cheap food would make a big difference to Nigerian workers and the poor. They will be the biggest beneficiaries. Nigeria instead should focus on foods it has comparative advantage in Also, the ban on importation of second hand clothes should be lifted. These would be a boon to the masses as it would not only make cloths cheaper but the business in it will boom as it provides employment for hundreds of thousands of people, if not over a million who are usually the poor. What is even greater is that lifting these bans would provide revenue for the government in the form of import duty. Nowadays, these goods are smuggled into the country daily, depriving the government of billions of Naira in revenue. 4 Likes 2 Shares |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by snowball11(m): 11:57pm On Jun 07, 2023 |
[quote author=Paramount01 post=123642851][/quote] Probably, your imam told you otherwise! |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by thatigboman: 12:10am On Jun 08, 2023 |
Acekidc4:u don't care after your lies have been busted. 1 Like |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by lexy2014: 12:20am On Jun 08, 2023 |
Acekidc4: Has the "removed" fuel subsidy not already caused inflation? Why didn't you ask "How do we go around it?" How will minimum wage cause in inflation? Who are the "we" that are going around it? Is Tinubu not capable of "going around it"? If you are so confident in Tinubus abilities as witnessed in your praise singing, why are you scared of inflation? 1 Like |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by Bekermann(m): 12:27am On Jun 08, 2023 |
grandstar: God bless you. This shows there's oil on your head. The APC minions are talking of nominal value, which is not a very sound metric to assess people's purchasing power. 1 Like |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by zedegit: 3:29am On Jun 08, 2023 |
Acekidc4: You are a boomboclaat. You don't care now that Apc has been put to shame. Their lies are out for people to see them for who they are. They have no agenda except to paint others black to appear like angels. I doubt things would have been this bad if Jonathan was sworn in. 1 Like |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by zedegit: 3:33am On Jun 08, 2023 |
Evergreen4: Mine never defaulted in payment. Always stable. God bless Jonathan. 1 Like |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by zedegit: 3:38am On Jun 08, 2023 |
I lost my business immediately Buhari came into power. I used that business to pay my school fees and even buy a phone. But the morafvker Buhari regime drove the price of the raw materials up that I would have been selling at a loss if I had continued. Kai. Buhari may God do you what you caused me.To those supporting this evil, may God visit you and your families with repercussions. 1 Like |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by franugo(m): 3:51am On Jun 08, 2023 |
ManWater: How is 100k realistic? Realistic minimum wage now would be 50-60k. It's all well and nice to peg the minimum wage at 100k, but how many state governments can pay that without fail? 1 Like |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by franugo(m): 3:52am On Jun 08, 2023 |
zedegit: To the best of my knowledge, no government has ever defaulted in nysc payment, I don't see how that is an achievement |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by obyno82: 4:20am On Jun 08, 2023 |
grandstar: |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by BigIyanga: 4:36am On Jun 08, 2023 |
When OBJ took over in 1999, minimum wage was like N2000.. he increased it to like 8000 by 400%… Baba said on radio that teachers were buying cars.. lol 1 Like |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by ExudeLoveToAll: 4:44am On Jun 08, 2023 |
sexyking1: They decreased it, the minimum wage purchasing power reduced as shown by your calculations. Pathetic 1 Like |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by eldoradoxx: 4:53am On Jun 08, 2023 |
Acekidc4:What will 70k buy for a single person in Nigeria of today. You and your Jagaband should wake up. |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by eldoradoxx: 4:55am On Jun 08, 2023 |
franugo:With total removal of subsidy, all the trillions spent on subsidy is to return to government revenue for sharing. No state cannot afford minimum wage of #100k. 1 Like |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by MMempire(m): 4:59am On Jun 08, 2023 |
sexyking1:Louder bro! |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by VeeVeeMyLuv(m): 5:17am On Jun 08, 2023 |
eldoradoxx:Leave am Dem tool like suffer, Normally as they are devaluing ( more naira notes available to pursue one (1) dollar $ bill) this currency called naira, the minimum wage is supposed to also be automatically flying high concurrently in a commensurate increment. 1 Like |
Re: FACT CHECK: Was Minimum Wage Stagnant During PDP’s 16 Years As Claimed? by obama99: 5:31am On Jun 08, 2023 |
Acekidc4: Listen you yourself |
Buhari Rejects N’assembly’s Peace Deal On Budget - Punch / Adamma Okpara Visits Okezie Ikpeazu (pics) / Senate Passes Reordered 2019 Poll Bill, 59 Senators Oppose Move
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 56 |