helinues:


Ridiculous minimum wage would cause inflation, I didn't say normal minimum wage would cause inflation. Don't twist things deliberately .

The questions which I asked about the unrealistic labour proposal, you ignored it but trying to shift the goal post

He simply asked you if the current #30,000 minimum wage is the reason behind the current inflation Nigeria is facing.

Miramonica:

Other countries dey increase minimum wage without much noise, but over here, it's meeting upon meeting.
But to be realistic, FG can't pay pass 100k.

Name one labour union you belong to in OTHER COUNTRIES?
Is it the labour union in OTHER COUNTRIES that pay minimum wage?
So they just pay without negotiating in your OTHER COUNTRY?

Are you the accountant general of Nigeria to say what Nigeria can pay or you are just typing trash while waiting for your mom to feed you this morning.

ADAMUdaCOWBOY:

He simply asked you if the current #30,000 minimum wage is the reason behind the current inflation Nigeria is facing.

That boy rather go back and write WAEC than to answer the question 😂

superCleanworks:


That boy rather go back and write WAEC than to answer the question 😂

😅 No wonder he keeps getting bashed on nairaland on a daily basis.

helinues:
When the labour union are ready to come up with a realistic proposal, they should let us know

Have u lost ur conscience again?

Can u imagine what u are saying...u are the one not being real here.

superCleanworks:


Name one labour union you belong to in OTHER COUNTRIES?
Is it the labour union in OTHER COUNTRIES that pay minimum wage?
So they just pay without negotiating in your OTHER COUNTRY?

Are you the accountant general of Nigeria to say what Nigeria can pay or you are just typing trash while waiting for your mom to feed you this morning.

As an idiot that you are, keep waiting for FG to pay you 490k. Animal in human flesh

This piece is entirely my own personal opinion. I welcome constructive criticism.

There is no gain saying that the Nigerian economy is in a mess at the moment. Whether you support the APC or not, the glaring truth is that the present trajectory of the economy is worrisome.

The main issue on the front burner at the moment is the minimum wage.

While labour has proposed 615k which is not realistic, the government has offered 48k which is ridiculous.

Though labour's position can be reasoned with, the truth is that the economy at this time cannot sustain such wage structure across board (government and private levels). The 48k is however too little to make a significant impact on the present level of hardship.

For any minimum wage to be impactful, it must be accompanied with either stability of current prices or more preferably, an immediate reduction in prices (let's leave all the inflation jargons for now).

Given this conundrum, I am of the opinion that Nigeria finds an innovative minimum wage structure to lean on for now. It does not have to copy any other country's pattern, but something unique to our present situation.

It would be a 4 pronged approach.

1. Devolution of the wage structure;
2. Reduction in government expenses;
3. Fixing of customs duties and
4. Addressing corruption through taxation.

1. Devolution of the Wage Structure

There needs to be a partial devolution of minimum wage that would depend on productivity, business structure & revenue. At least for now given our dire situation.

For instance, nano & micro businesses with annual turnover of less than N10m can have a minimum wage of 60k.

Small businesses with annual turnover of over N10m but less than N250m can have a minimum wage of N100k

Medium businesses with turnover of over N250m but less than N1bn can have a minimum wage of N130k.

Big businesses with turnover of over N1bn but less than N10bn can do N160k

Very big businesses can do N180k.

Governments should take a middle stance and do N126k.

Doing this should ease pressure a bit.

2. Reduction in Government Expenses

Cut cost of governance at all levels. To start, all elected officials and political appointees should be placed on the government minimum wage immediately. They should also make sacrifices.

Also, stop all purchase of foreign vehicles by government officials even if such vehicles have already been imported. Buy only locally assembled vehicles. Exceptions would of course be given to specialised vehicles (tractors, trailers, excavators etc) that can't be assembled in Nigeria.

3. Fix Customs Duties

Peg the customs exchange rate at N500 to a dollar. A key reason why goods increase is due to high duties & instability. Government needs to sacrifice a bit by pegging customs duties at N500 for at least 1 year. By this, businesses can plan in the medium to long term.

Of course, the government has to ensure a drastic reduction in prices of goods and services by implementing policies to push down inflation within 6-10 months. So it would have to look at other areas too where levies can be reduced.

4. Address Corruption through Taxation

Rather than tax Nigerians to death, tie everyone's income to assets to taxes. Your assets must reflect your income and your income must reflect in your taxes. That's the only way to reduce corruption and also increase government revenue.

Today, we see people buying multiple cars worth hundreds of millions of naira. Buying houses worth billions every other month. Living extremely lavish lives... yet, their source of income is shrouded in secrecy and taxes are not reflective of thier assets and incomes.

It is ridiculous that a person has assets worth over N1bn but has an annual income of N8m and tax payment of less than N800k... these are the areas government loses money. For those who use fronts and companies, its even easier, check the revenue of the company and than its taxes.

Conclusion

Of course, there are other areas government needs to work on such as security, repairing infrastructure, reducing the overbloated workforce at government level and others, but within the present context of the minimum wage issues, the 4 measures might help.

Thanks for reading...

Idiots!!!

Why wasn't there paucity of funds when you guys were:

1. Subsidising Pilgrimage with 90 Billion

2. Buying and importing expensive cars for Lawmakers

3. Refurbishing VP's house with Billions

4. Traveling aimlessly about at the expense of national funds

Etc.


This is the problem! When there is a lack of transparency and integrity in leadership, such issues will keep arising.

This is what made NLC make such ridiculous demands... Because of the obscene way funds are spent among you guys in government.

Even far developed and wealthy nations don't overindulge their leaders like Nigeria and Nigerians do.

Miramonica:
As an idiot that you are, keep waiting for FG to pay you 490k. Animal in human flesh

Name one labour union you belong to in OTHER COUNTRIES?
Is it the labour union in OTHER COUNTRIES that pay minimum wage?
So they just pay without negotiating in your OTHER COUNTRY?

Are you the accountant general of Nigeria to say what Nigeria can pay or you are just typing trash while waiting for your mom to feed you this morning.

superCleanworks:


Name one labour union you belong to in OTHER COUNTRIES?
Is it the labour union in OTHER COUNTRIES that pay minimum wage?
So they just pay without negotiating in your OTHER COUNTRY?

Are you the accountant general of Nigeria to say what Nigeria can pay or you are just typing trash while waiting for your mom to feed you this morning.

oh, i didnt know i was engaging a robot. My bad!

ADAMUdaCOWBOY:

😅 No wonder he keeps getting bashed on nairaland on a daily basis.

It is very hard for such a boy to produce something laudible from his brain, especially in the morning when his mom has not given him free food.
Please, bear with him and the other one commenting directly above. A simple question distorts their DNA

Ofunaofu:


Are you saying that in your secondary school, you were thought that minimum wage causes inflation.

If you are going to blame the minimum wage as the cause of inflation, I must confess, you learn nothing

You are now implying that The current high inflation the country is experiencing at the moment is because of the N30000 minimum wage

Leave that mugu...
zombie economics taught him that In their zombie school.

And he is confidently chatting shit that minimum wage causes inflation...

Someone that said egg is for the rich what do you expect?

Bamss1:
Labour just dey make me laugh with their figures. Are they really serious? They should be realistic na. How do we jump from 30k to almost 500k

How did rice jump from 8k to almost 85k?

Bamss1:
Labour just dey make me laugh with their figures. Are they really serious? They should be realistic na. How do we jump from 30k to almost 500k

I don't know how informed you are, I think yourself should do a bit of findings and analysis before you begin to post on topics like this.

Yes government is not magicians, but who is, the workers?

My bro God will bless you , some people will just open mouth and vomit rubbish, even the labour self, i keep on wondering how they reason

helinues:


They are being realistic with N500k as minimum wage?

Where do they expect the government to get the funds? To borrow or to increase more tax base which Nigerians are fuming at both?

What should happen to private sector workers, how would they be able to cope in the same economy where the government workers would be earning X300% of their basic salary?

What do you think would happen to Nigeria economy with government paying N500k as salary? Inflation of course.

So what's realistic about Labour's proposal

The discussion about minimum wage has really shown how insensitive and unrealistic most Nigerians are. How on earth will you increase minimum wage from 30k to 500k?
What happens to private sector? Who will pay their own minimum wage? And what will happen to other sectors of governance if such huge fund is used for salary?
If minimum wage is 500k then someone in level 16 will be receiving close to 10m as monthly salary.
The overall effect of this on inflation will be catastrophic, the Naira will become extremely worthless that a loaf of bread could sale for 20k, school fees and house rents will be in millions, afterall minimum wage is 500k.
Ask yourself what happened in Nigeria immediately minimum wage was upgraded from 18k to 30k, prices of goods and services immediately adjusted to the point that there was almost zero benefit of the increased minimum wage.
Such will still happen if minimum wage is increased from 30k to 500k

497k as minimum wage?Ajaero watches too many movies to the point that he gets confused as to differentiating what is real from what is fiction.Should this matter linger beyond this month I wouldn't be wrong to say that it is a deliberate political move by Ajaero and his LP to prolong the sufferings of the masses inorder for them(especially the majority uneducated)to have something to say against the present administration.

helinues:


They are being realistic with N500k as minimum wage?

Where do they expect the government to get the funds? To borrow or to increase more tax base which Nigerians are fuming at both?

What should happen to private sector workers, how would they be able to cope in the same economy where the government workers would be earning X300% of their basic salary?

What do you think would happen to Nigeria economy with government paying N500k as salary? Inflation of course.

So what's realistic about Labour's proposal

The same government ur trying to defend are bunch of thief's if dea are being paid 20M and expensive SUV'S then they can pay what can 57 thousand buy??

Justiceganduje:
What and what do you understand by minimum wage? Hurry up ok.

Why don't you educate us what you too understands by minimum wage? We will be happy to learn from you. And also how the FG and the state governments can afford to pay the minimum wage of N497,000 to their workers vis-a-vis the country's poor economy?

And don't reply with the humongous entitlements the politicians have allocated to themselves, which we all know is wickedness. But since everybody want to be earning the same humongous salaries, where will the government get the money to finance this?

I see them coming down to 200k
Make Governance less lucrative and you'll see Nigeria develop faster

Bamss1:
Labour just dey make me laugh with their figures. Are they really serious? They should be realistic na. How do we jump from 30k to almost 500k

How did fuel jump from 180 to 850

RexTramadol1:




In as much as I do not subscribe to the amount demanded by Labour… what do you mean by where does labour want the FG to see money to pay?


Same FG that removed subsidy on fuel, electricity tariff which has affected prices of practically everything in the country, where does government also want the workers to get money to afford many of these things their policies brought upon them?


It is only fair for the government to come up with something reasonable and when Labour sees seriousness, they will then come down to reality with them.


With the cost of living today, it’s better Labour raises an unrealistic bar so that the negotiations can conclude at something fair and realistic for all.

Transport of 100 now increase to 500.same distance.same salary
Just like the way everything has increased .
57000 is a nonsence bar
Something between 100 and 150 will be ok.
At worst 75 to 100

Bamss1:
Labour just dey make me laugh with their figures. Are they really serious? They should be realistic na. How do we jump from 30k to almost 500k

how did we jump from N195/litre to N750/litre of petrol? Government should also jump same way in minimum wage matter na!

udede:
Which one be hurry up again this morning bikonu, everything wey you dey write since today na "hurry up, hurry up" abeg dem take hurry up swear for you for dream ?

The fellow is a troll.

Government should give breakdown of how a married man with no children yet will manage 57k in a month. Just a man and his wife o, don’t include children for now. The lowest minimum wage for now should be 100k at least. To cater for transport and feeding only

DECLAN2015:


Transport of 100 now increase to 500.same distance.same salary
Just like the way everything has increased .
57000 is a nonsence bar
Something between 100 and 150 will be ok.
At worst 75 to 100

Raising the minimum wage significantly is not the solution to Nigeria's economic woes. So long as the problems persist, the increase won't make a difference. Unless you want to buy bread for 100k. How many governors are paying the current minimum wage? Labour should be realistic.

Bamss1:
Labour just dey make me laugh with their figures. Are they really serious? They should be realistic na. How do we jump from 30k to almost 500k

They are realistic, review the cost of things now and you will discover it's the government that is unrealistic

Imagine a married man earning #54,000 that can not even buy a bag of rice to feed his family, we have not looked into other necessities like school fees, medicals etc

helinues:


They are being realistic with N500k as minimum wage?

Where do they expect the government to get the funds? To borrow or to increase more tax base which Nigerians are fuming at both?

What should happen to private sector workers, how would they be able to cope in the same economy where the government workers would be earning X300% of their basic salary?

What do you think would happen to Nigeria economy with government paying N500k as salary? Inflation of course.

So what's realistic about Labour's proposal

Where does government get money they pay president, vp, house of reps, senators, judiciary, where does their allowances come from?
First e need to know how much they earn and their allowances should be scrapped, their salaries reduced, u will see no body will fight for those seats again

dollar124:
The discussion about minimum wage has really shown how insensitive and unrealistic most Nigerians are. How on earth will you increase minimum wage from 30k to 500k?
What happens to private sector? Who will pay their own minimum wage? And what will happen to other sectors of governance if such huge fund is used for salary?
If minimum wage is 500k then someone in level 16 will be receiving close to 10m as monthly salary.
The overall effect of this on inflation will be catastrophic, the Naira will become extremely worthless that a loaf of bread could sale for 20k, school fees and house rents will be in millions, afterall minimum wage is 500k.
Ask yourself what happened in Nigeria immediately minimum wage was upgraded from 18k to 30k, prices of goods and services immediately adjusted to the point that there was almost zero benefit of the increased minimum wage.
Such will still happen if minimum wage is increased from 30k to 500k

You this man, federal civil service graduate level 7 salary and master degree holder level 8 salary is barely enough these days. It is only enough for feeding! No disposable income or savings at all! Do you like it this way?

Before you could save from your salary and buy a good car within a year.

But now it is impossible.

There's nothing to defend there. The salary across board currently is pathetic

oluwaseyi0:
So in this people mind, the average private nursery school in Benue or Osun can afford to pay each of their teachers 500,000, and that one-man struggling business can afford to pay their cleaner 500,000k per month or you think minimum wage begins and ends at the public office, in fact, currently some states ain't even generating enough to pay the 30k minimum wage,

if level one step one is 500k, how much will fresh graduates which usually start at level 8 receive, 3.5million monthly I guess, then a level 13/14 senior public servant will receive 13m monthly or do you intend to pay level one step one 500k but intend to pay level fourteen 600k?

Idiotic comment

Bamss1:
Labour just dey make me laugh with their figures. Are they really serious? They should be realistic na. How do we jump from 30k to almost 500k

FG is not realistic.... How did they make price of fuel from 185 to 700, diesel from 700 to 1,500, dollars from 750 to 1,400.
The above changes have make a significant shift in price of every product and service. There they should be able to meet the demand of labour.

Bamss1:
Labour just dey make me laugh with their figures. Are they really serious? They should be realistic na. How do we jump from 30k to almost 500k

You are not serious. How did price of fuel jump from 180 to what it is today?

How did price of food items quadruple in months?

In all of these 30k brouhaha, your legislators take home nothing less than 30m monthly. The highest political pay out anywhere in the world!

They have 90b to spend on Hajj, but cant pay sustainable salaries? You have been brainwashed unfortunately