₦airaland Forum

CodeTemplar:
A nation building pipeline to europe is lacking gas.

Be sincere with yourself, are you lacking gas or suffering from high prices of gas?

TenderManiac:
In other words, the price hick is artificial. It was created by the rich to choke the poor.

So the prices of natural gas and crude oil increasing in the global due to Middle East crisis where also artificial?

XtremeConsumer:
same value as other states governors that are paying minimum wage.

I asked about the value (purchasing power) and not volume

XtremeConsumer:
With all the allocations, imagine the current governor is not even paying minimum wage.

What is the value of the allocation?

marlow1962:
No state is poor
but for 90k,, you can do better Mr aspirant.

Talk from like 200k, then people will take you serious.

How many rich countries in the world earns ₦200,000 in there local currencies?

Alphanancy:
Why 90k? Why not make it 150k?

Are you ready to buy a litre of petrol for ₦2,000 and above?

NwokoloOwa:
And he will telling us nonsense about taxes making his cement cost higher in Nigeria than in nearby countries. Why are the taxes no affecting his income and wealth which has been rising astronomically. And the Nigerian market is his main market driving his wealth.

Dangote, BUA, Lafarge and their likes in the extractive industry are thriving on our blood and smiling to the bank.

It's just nonsense.

"He will be telling us nonsense about taxes" says a taxpayer who Tinubu government is oppressing with taxes.

Gerrard59:
Buhari ruined the country's economy. Subsidy was not working as fuel was siphoned to neigbouring countries. Also, Nigeria is too poor and actually broke to continue with subsidies. Devaluation was necessary because, again, Buhari wrecked the economy and the value of the naira was artificial.


Public transport, including rail to carry both people and goods. This is why even in 2012, I supported the removal of subsidies. My argument then was that the government should not own and operate refineries. For private refineries to operate profitably, the govt has to let go of controlling fuel prices. My issue with Tinubu is him kicking against subsidy removal then, but implementing it now.

_{Special thanks to my dad and secondary school economics teacher. God bless them.}

The concept of removing petrol subsidy is one of the nonsense policies ever. You know why?
It is the duty of the government to subsidize basic necessities like petrol to make affordable to the citizens and protect the border. To show how nonsense it is. They went and devalued the naira causing the price of petrol to increase in naira and decrease in other currencies including the CFA. Countries like Cameroon, Niger, Benin etc now buys cheaper from Nigeria than when it was subsidized.
So, who is deceiving who?

Kindledlight:
Exactly my thought, the way those company producing consumables inflate their prices you will think Nigeria is at war. Even though the economy is bad the hike in prices of goods and services is something I still wonder about.

And one of the reasons I dislike about this government, inability to control prices of these items.

Tinubu promised to reduced your purchasing power during his electoral campaign.He came into power, remove petrol subsidy and devalued the naira. He multiplied the effect by increasing minimum wage in to increase the inflation.
Where all these happened, what do you do?
You want price control but watched Tinubu removed petrol subsidy.

Heartless is when you use tribalism and religion to vote bad government who promised to reduced your purchasing power and expect things to be cheaper.

Cyberdog:
This people are heartless
no price control,
At the end they put the blame on fuel and you make billions in return

Gerrard59:
The belief that the country begins in Lagos and ends at Abuja is largely borne by ignorant netizens. The worse is the same belief held by diasporans.

They believe the country is rich..

Removal of fuel subsidies and devaluation were in the right order. The major problems are not providing public transport alternatives and the heinous insecurity.

Subsidy was invented as an alternative to make the prices of products cheaper than it's market price. Devaluation destroys the value of a currency and increases the prices of goods and services.
Now, what was so right about Tinubu removing petrol and devaluing the naira?
What other alternatives after removing the alternative (subsidy)?

Riversides2003:
Watch how prices of charcoal will start going up now

As if prices of were cheap before?

temmyyem:
A country that has abundance of natural and human resources, yet, the evil called govt/politicians made everything unaffordable while sponsoring the killing of the people.

May the Most High judgement locate this evil called govt and all the religious leaders

Basic commodities like LPG are subsidized by the government in other parts of the world, but here government deceived masses with subsidy is free money for the rich and removes it. The same government increased taxes and pumps more money into circulation to devalued the naira. Yet, the masses defend them at any given opportunity.

helinues:
Na the marketers increased the price no be government, but wait and see as how the government will be the one to blame for this

Are marketers and the government the ones shooting missiles in the Strait of Hormuz?

ordovicianonly:
This is completely true and it is not applicable to only phones but all gadgets . My Samsung was purchased from USA with AT&T network which runs on Snapdragon processor which is totally different from the version sold in other parts of the world especially AFRICA/ASIA/EUROE which uses exynos processor . The difference is that the USA version processor is faster especially for gamers & the picture quality of the USA version is sharper & more colorful than any other Samsung sold anywhere . Samsung phones made for USA are manufactured in Vietnam while CHINA ,South korea manufacture for other markets . The USA own are more durable and takes time to get hot when using it heavily which is not the same for any other variants . Learn and stop saying iPhone is iPhone or Samsung is Samsung . All phones can be the same brand ,same model ,the same functionality but there are differences in the software & processor which physical changes

This is applicable to any products that is produced for the international market and not only phones. Coca cola products like coke, fanta etc taste differently in different countries. The Dangote petrol and diesel consumed in Nigeria are different from the ones export to the US and EU.

Neoteny:
They're the same, all made in the same factory by foxconn. Only differences are just the SIM type and mmWave 5G antenna.

Same design. Same chipset. Same screen. Same camera. Same software. Same battery. Same apps.

You are wrong this, Ben produced by the same manufacturer doesn't means they are same. iPhones are designed with different specifications for different markets. The specification for US differs from UK, just as that of Israel differs from China.
This is not limited to iPhone and Apple Inc alone. Every manufacturer that produces for the international differential it's products specification to meet specific product standards set by those countries government.
Let's take Dangote refinery for example, the quality of petrol and diesel Dangote refines and export to Europe is higher than the ones used by Nigerians, hence huge difference in price.

obiekunie01:
Actually, Opay and MoniePoint has killed those useless so called "Big Banks" but the banks dont know it yet. The redundancy that those old banks will do by 2027 will be ground shaking.

I cant remember the last time i did any transaction on my Access Bank, FCMB and GT. In fact, since january 2025 to date, av not been any banking hall. Very useless thieves masquerading as banks.

I know very soon private sector go enter electricity generation and distribution - that will be the end of NEPA and their wahala.

In 2026, somebody is still talking about going to a banking hall for simple transaction that take less a minute on app and USSD.

MT:
When you save with them, they give you higher interest return too.

The higher interest and it's returns fuels inflation faster than you think

maasoap:
No. It doesn't work that way. There may be a mild inflation following increment in wages but it won't be significant as long as there is no major new economic policies.

Mild inflation?
Are you aware that inflation is excessive money in circulation chasing few goods and services?
Have you consider the multiplier effect of money creation with more nairas in circulation?

Jman06:
This is not true! House rent in Enugu recently rose astronomically and many people are already pressuring government to checkmate the landlords and house agents. So, no landlord would raise house rent above what it is currently. I have stated it here that the main driving forces that lead to increased costs of living are increase in fuel prices, exchange rate of naira vs dollar and maybe increase in government taxes. The meagre increase in minimum wage has little to no effects on cost of living.

I can see that you don't what to see reality the ways it is. I leave you to believe the illusion of house rent not increasing in Enugu because they placed an imaginary price ceiling on without subsidy, paying no attention to the land increment. Get ready to be more poorer after minimum wage increment.

gabbasin:
you're just churning out Dangote line of propaganda, as if na today I just dey buy petrol. Let me tell I have been buying petrol for decades, both for industrial use and for my cars. Don't say what yoh you don't know much of.

It is also propaganda that Nigeria and other West African countries were importing lower petrol from and with the emergence of Dangote refinery, the script was rewritten?
The shutting down of refineries looks like a joke?

Iseddy:
Ask yourself was it minimum wage that is causing this current hardship? All this problem started with the removal of subsidy and floatation of exchange rate. The subsidy money where is going into? Instead they are still borrowing more money on top increase in taxes... Because workers are crying out some of you are seeing them as enemies of the masses

The law of money states that the value of money is inversely proportional to volume of money. The higher volume of naira Nigerians earns as minimum wage, the lower the value and the higher prices of goods and services which results to more poverty.
The money for petrol subsidy was borrowed, and nobody start saving money they after they borrowing which was the sources of income.
Also, Nigeria is an import dependent economy which needs dollars for importation and I don't any correlation between removing petrol subsidy which was paid in naira, increment in taxes in naira to stop the government from borrowing form IMF, World Bank and Co. If APC deceive you with them, then they succeeded.

With the ₦200,000 minimum wage you are demanding, you have no other option than ₦5 million house rent for a 3-bedroom in Enugu.

Jman06:
With the current cost of living, government has no choice than to increase minimum wage to 200k unless they would agree that civil service would become a part-time job such that workers would not dedicate all their time to working for government. They can work for 2-3 days in a week and use the rest of their time to earn their livelihood.

I initially cited instances of the astronomical increase in house rent in my state of Enugu where rent rose from 300k to 1.5M for 3-bedroom flat. That's just house rent o. Minimum wage should reflect such proportion of increase in living costs in other for the civil servants to survive and give their best. If government cannot increase minimum wage to reflect the current cost of living then they should consider my suggestion above. If government fails to do either of the above, then sooner than later, civil servants would stop paying much attention to their work but look for alternative means of survival.

maasoap:
Who is your Economics teacher? The reason why the prices of goods and services spiked wasn't because of increase to 70k minimum wage but because Tinubu stopped defending naira and removed subsidies on fuels.
The current minimum wage is far below the current inflation. The increase in wages will only play catch up with the current inflation as long as no new dramatic economic policy is introduced

Floating of the naira and minimum wage increment in naira are both currency devaluation strategies.
Increasing to minimum further will introduce Nigerians to a new deeper depth of poverty.

Iseddy:
Check exchange rate before you mock Zimbabwe currency... Their currency has more value than Naira now

You need to read and understand comment before replying, I was only referring what happen in Zimbabwe about two decades ago.

onyxo76:
1m nibo? then a bag of rice will be 500k and pure water 20k per bag

Leave them to defend for more sufferings.

nonny1212:
I think 500k $350/ per month is very fair.

₦500,000 to $15 is the reality awaiting since basic monetary economics is difficult to understand

Iseddy:
Yes 1M might sound ridiculous but trust me 1M is nothing today, way back as at 2004, 100k then is more than 1M today. Purchasing power of Naira is nothing to write home about. If we should tell ourselves the truth no workers is supposed to be earning less than 500k

The value of money is inversely proportional to the volume of money. This means the higher the minimum wage in naira, the more naira becomes valuesless with more Nigerians thrown into poverty.

Freshtruth:
Theid 1m intop dying economy

Zimbabwe loading.......

epainos:
This is a signal that Nigeria is about to burst. 1m. This kind of inflation ...eh! As in part two will be notirious if this happens.

Nigeria is going to be the next Zimbabwe where citizens we push wheelbarrow loads of money to buy a loaf of bread.

yorke1:
LOL. Is this a joke? They deserve it, considering how much politicians take home monthly

Are you ready for massive price increment and more poverty?

SmartPolician:
The inflation rate is alarming. If state governors increase the minimum salary, prices of goods and services will increase as if everyone works for the government.

A lot Nigerians have refused to see the reality of increasing minimum wage in naira which makes Nigerians more poorer.