If ever true then beautiful

Because your 469 "lawmakers" are about to share N70billion as palliative, because that's the amount a single individual over there in Abuja pockets like it's 10naira.

Chidolalar:

Ok now I get u.
So what is your main aim for saying that.

If they try am they’ll pollute the economy, Zimbabwe will be better than us

Believe this at your own risk.. 30k was difficult to pay na 200k dem go pay? Tinubu really want Nigerians to stand behind him in this difficult time but the tribunal will pass their judgement accordingly.

Nigerian government should please not to increase minimum wage to #200k,they should better work on production of food and human consumptions and better still work on cost regulation within the country.
But if they try to increase the minimum wage to ₦200k then the economy will drastically crumbled,and life will be tougher.

If you increase it,then private organization which is only production sector will have in the country will also increase price of their goods to meet up with the standard,then the ₦200k will now be useless.

LMAO.

They are messing with people's minds.

Is this real?

CodeTemplar:
The question isn't about minimum wage but of price of things. Prices determine buying power of the money.

If the govt exercises the power to print money and decide to introduce it into the system by paying workers N200k, the businessmen who produce and import what that money ends up buying will adjust because nothing stops them for setting high prices. At the end, the worker will discover his 200k can't buy what 30k could before the minimum wage increase.

The only solution to our problem is production of goods and not of money. Money is gradually failing but many can't see it.

they increase it dey no increase it o. Price of things will still go up and it has already gone up . So Wetin come happen .

Boogyman557:
Holly Gram real matters on top real matterz..


LITE UP my WEED in peace


WTF MAN!

Boogeyman557 my gee longest time.
You just left us with Arizona

osazsky:
is it d increase That caused it..make una try dey get sense wat are u producing

Kid. Lo sun


Once increment occurs.. Price sours

osazsky:
look for something doing.start from somewher

You be omoluabi indeed.

Even if fg plans to increase minimum wage with 5000, I think they should take price control serious

Blitzking:

Flooding the system with devalued notes won't solve the underlying problem..it would create more harm than good.

flood it first

victorsola:
they increase it dey no increase it o. Price of things will still go up and it has already gone up . So Wetin come happen .

i tire o...see them shouting inflation as if we are not Already in inflation.wat is there to inflate again..something that is close to 25percent

Lol, the governors that could barely even pay N30k.

olaniyilukman:
You are mumu and you can even analyse simple economics, inflation will definitely rise because there will be too much of money in circulation and automatically purchasing power will drop drastically...

Who invited this sick mad dog ? Pele o. PhD Economics.

Obviously aware that he is very temporary in the position, he decided to bring burden on the incoming People's president.

Scam!

Na lie, na 8k be the minimum wage now

Prices of things will rise and 200k will still equate to 30k, this the best APC can come up with?

001Lagos:
and how did you know that nobody else will do better

Someone else may do better; however, for such person to circumvent such reality, it will take a force that's not of this world.

Depriest2020:

For federal workers, state can choose what they can pay.

Depriest2020:
If APC can achieve that, they would rule for more 16yrs.

I assumed that also. And there would be mass cross-capeting.

OkpaNsukkaisBae:
If achieved, it will be a massive win for APC.

Oga shut up! Gullible follower

LordAdam16:


Perhaps you missed the section of the article that cited the naira float.

Perhaps this is why the CBN has refused to intervene markedly in the FX market. The official I&E rate closed at 803/$ on Friday.

Tinubu will raise the minimum wage by a significant margin to net an easy policy win. Then the $ rate will figuratively moon to pay for it.

50K. 100K. 150K. 200K. It matters not. Needless to say, the resultant hyperinflation will be biblical.

At the current rate, we can afford 55K (+/- 10K) minimum wage. The proposed 100K will require rates of at least 1200/$. It's not that far off. Wema Bank charges circa 950/$ for transactions.

200K is bonkers.

cc grandstar CuriousStudent

I concur with you. A high minimum wage will simply be inflationary and lead to the fall of the Naira as more Naira will be chasing the same amount of dollars.

That is probably why Tinubu is dragging his feet. A new finance minister is also needed to coordinate things. Until one is appointed and consulted, the government should not increase the minimum wage.

The minimum wage is a very tricky issue.

I doubt this government will go beyond the 50k mark. I am hoping for 40k. The damage it will cost at 40k will be minimal.

I have always believed there are better alternatives to deceptive palliatives. One is lift the ban on rice imports and place on it low tariffs. Do likewise for poultry. A kilo of frozen chicken bought directly from exporters in Europe is N350. If a 20% import duty is placed on it, I am sure it will reach the Nigeria consumer at no more than N1,800 (if not lower) against the present 2,400.

The same should be done to rice. We don't have any comparative advantage in the production of these products. A promise to the masses and its actualization to bring food down would be welcomed.

Lift the ban on second hand cloths and shoes imports and replace them with low duties too. This will not only drive down the cost of cloths but boost a business that feeds 100s of thousands if not over a million Nigerians

Such reforms do not only boost growth but boost government revenue as well. The N500bn could be better spent helping businesses adjust to changes.

SMARTMOTORS:
Because your 469 "lawmakers" are about to share N70billion as palliative, because that's the amount a single individual over there in Abuja pockets like it's 10naira.

Wow. not my but yours.
That's 149m for each person wen u divide 70bn by 469

DonMarkuzi:
Who are the pawns in this game of chess.

Federal Government doesn't have that money

Something wey em no go implement....

this one na story story

200k pay will change nothing for the broke ones, price of goods and services will match that amount and things will just be normal as it was. Wetin make ona think say rat race dey almost perpetual for a lot of persons.