₦airaland Forum

sod09:
Power grid nko
Na that one concern me ATM

Let's hope they will turn it back on.

izzou:
[color=royalblue]Funnily enough, i just opened the account recently.

My aim was to save some money there that i was going to spend on one occasion later in the year.

Now, both the plan and money has loor.

And the weyrey people send me credit alert on Friday oh, when month end oh.[/color]

Them pay you interest now.

https://twitter.com/NLCHeadquarters/status/1797978902591377697?t=4ZJYR_knCGfwUjy0F4AZJg&s=19

Check the quotes of this NLC quote and the majority of them are asking NLC to turn on the light and it's just 1 day of national black out.

If e reach day 3, the way NLC go take lose support go dey amaze them.

People never chop, where them wan see money buy fuel at 670 per litre. Heat wan finish person head.

Strike called off for one week.

Itsrm:
So now it's obvious the problem was not because heritage bank cannot be salvaged, Cardoso is just taking a different approach.

And I absolutely agree with you, 500k can no longer cut it. Maybe they'll increase it post recapitalisation.

Emefiele don bail out Heritage bank before, it will be foolish of Cardoso to also try to bail them out if all they do is keep running the bank to the ground.

Revoke their license danu.

BlueRayDick:
Hmmmm. Well, there’s wisdom in what Emefiele was doing which is summarized above , but it imposed serious moral hazard . It allowed major shareholders who ran the banks to the ground to escape .

There’s also sense in this Cardoso’s approach of not rescuing the banks but something must give.

I think they need to revisit and review the amount of depositors fund that are insured with NDIC . That current N500k is too small. If CBN under Cardoso has chosen to allow market forces prevail , then they should review the amount of depositors fund that can be recoverable in the event a bank fails .

I hear it's now 5m.

afrodoc2:
Fair enough.

There is no defense for the income of those people sha. In most other countries hand would have touched them long ago.

No lies.

WhoDeyHause:
Osanobua uwese. At least make them give us light even if na 2 secs we go manage am. The queue at the fuel stations yesterday fit make a hard man fold.

Enjoy the heat. Shey them no dey kuku bring the light before now.

afrodoc2:
[/b]

Then you are saying it makes sense.

They were not saying everybody should earn NASS salary. Their point was that NASS member income increased by 155 over the years while minimum wage increased by 10 in the same period.

That argument would've made sense. Instead they were showing the entire NASS budget which includes their capital expenditure.

Ajaero wey fit call off strike tomorrow.

Amigoss:
Ajaero o ni jere ,won ti te owo fun werey.......if I was in a position affected by the rubbish strike today, I go dey gbe shekpe everyday ni

So dem never agree,he dey sign ....If I hear say no be 1naira tinubu go add to the higher than 60k just to take the piss (like wenger did to the suarez buy out clause) and use tax collect am back...

You see why it makes no sense to go after critical essential infrastructure now ehn?

nihilistjnr:
Actually it's so many things. Exchange rate, insecurity and lack of power being chief amongst them.

I don't know if it's even possible for any of these governments to ever fix.

Well you are right and all these are in the purview of the FG but we are not seeing any concrete plans to address these challenges so something must give.

Workers will have to survive one way or the other and the immediate solution is increase in minimum wage.

OkpaNsukkaisBae:
Declaring emergency on agriculture won't work because of insecurity especially in the North.

Declaring an emergency on agriculture means they have to find a way to make farmers return to farm, plant and harvest.

Without that, our food inflation is just warming up.

OasisX:
......that's why check and balance is relevant. Humans are the ones leading us not AI. Less down 5,000 people can't be wiser than 200m people.

If they ain't getting it right, we can call them to order.

That's why Labor dey on strike currently now, maybe just maybe their head will be correct.

OasisX:
....to be honest, the Administration is damn slow, I expect things to be better by now, but I still hope it can get better.

Inflation must be brought down anyhow they wanna go about it, that's what we need in Nigeria now.

Very slow and sometimes clueless.

Sometimes it even seems as if they dont even know their priorities.

nihilistjnr:
We've been facing a cost of living crisis here for the last 3 years. What the UK government did would be considered suicidal in Nigeria, but they created an environment to remove money from circulation and stick to reducing inflation no matter the cost.

The consequences have been profound. Job markets have been decimated. Record number of companies have gone insolvent. Hundreds of thousands if not in the millions have been laid off. Entire councils (like states) announced bankruptcy. Birmingham City Council (the 2nd biggest in the country) went bust trying to implement equal pay between male and female staff

The cure for inflation is incredibly bitter. If Tinubu even dared to think about it, he would probably be shot on sight.

The number one driver of our own inflation is FOOD. Workers spend 60% of their salary on food.

Currently to buy pepper and tomato na war. Yam, beans, garri and the likes are not smiling.

You'd think a reasonable government will declare an emergency on agriculture but alas even the Minister for Agriculture no even sabi wetin he dey do.

Input in the high cost of petrol and diesel which has made transportation even higher (this also contribute to the high cost of food) and you will see that our inflation is very easy to tackle if our government is sincere.

On this economy issue, Tinubu don fall my hand big time.

Itsrm:
No, you're missing the point. Look at the progression from 1999. Compare the % increase in their budget which you'll assume reflects economic realities and the % increase in minimum wage.

No one is saying a worker on minimum wage should earn the same as a senator.

But their budget includes their capital expenditure now, it's not all just Nass member salary. It includes their capital expenditures and all their aides salary.

liveLongNprospa:
But everything is being shown.
The executive ooo.. The legislature.

I personally believe nothing is impossible to rectify.
If citizens actually go mad, that same nass will let go of alot of their salaries.
Na we as citizens just dey docile.
See how fast it took to get to the airports.
Kasala burst today, how many politicians go escape?

Bros na NASS dey dictate their own salary themselves o. Goodluck on that agenda.

OasisX:


.....and this one thinks increment in minimum wage is all we need now. Eyes go soon clear. Sebi prices of commodities and services will remain the same bá?!

If Labour Union are really serious, they should have demanded for implementation of Policies that will reduce Inflation to barest minimum.

If opening of borders is best way to achieve it, so be it. I can easily predict the outcome, more money, but same value in the end.

What is the FG doing to reduce inflation? Why should labor be demanding the FG to implement policies to reduce inflation when that's what any sane government should be actively doing?

Abeg make we no transfer the failures of the government to implement policies to battle inflation on labor.

On this minimum wage issue, NLC and TUC don try (Apart from the outrageous amount they are calling anyways )

liveLongNprospa:
Lmao.. We both know state government won't pay that amount, but the salary will rise for some of them while the rest of the federal workers will earn more.

Again, this is nothing compared to what those people really deserve.
Guy 5 pieces of plantain na 3k or 4k depending on where you dey.

I'm in full support of increase in minimum wage o, infact if I have my way I go approve 100k this night, the koko is the organized private sector, them no go gree.

OasisX:
.....question is; do you really think Labour Union is ready to accept between ₦70k and ₦100k?!

FG propose ₦60k, Labour Union is demanding ₦495k. Its easier for FG to agree ₦100k than Labour to say yes to anything less down ₦250k.

That's why I said both of them should stop whining themselves and seat down sincerely and come to an agreement.

I dont blame labour though, that committee has taken them for granted for almost 6 month now. Na now their day just dey break. Make Labor sef use them play small.

nihilistjnr:
Solution to cost of living cannot be to increase wages. If you had scant hope that this government could somehow roku to reduce inflation, you might as well kiss it goodbye when you quintuple a cleaner's salary from 30k to 150k, and bringing their earning power into parity with the lower end of skilled labour.

Hyperinflation aside, that's going to wreak havoc on societal dynamics. It's an unspoken rule because of how unchristianlike it is to say, but I-better-pass-my -neigbour is an integral component of maintaining social class order.

If you bump cleaner salaries into 150k fresh graduate territory, without bumping them up into mid-career earning territory, you're going to have a very unhappy professional class -:and this is typically the sector of society that produces the biggest threat to any government.

I don't think 100k minimum wage of feasible in Nigeria, but then again I don't think Nigeria itself is a feasible contraption, so who knows?

They should find a middle ground between 70 - 100k.

That 60k might not cut it.

raumdeuter:
I don't blame Labor too

Because they waited for 1yr and no one seemed to be doing anything

I dont blame Labour at all.

Infact Ajaero gave them enough time before this strike.

They were busying doing nonsense up and down. I cant believe it that Tinubu drop the ball on this considering the fact that he knew that there should be a new minimum wage by April 19, he said before the end of May, we will have a new minimum wage but those he appointed were just doing nothing.

They deserve whatever Ajaero is doing to them.

Segedinho:
This is not comparison but to show u that we are not extremely broke as some mugu dey claim

The comparison makes no sense baba Sege.

The NASS entire budget is 325billion and that includes both their capital and recurrent expenditure.

Our salary, wages and pension in our recurrent expenditure is over 5 trillion naira with the current minimum.

Increase minimum wage to 100k and our wages, salaries and allowance in our recurrent expenditure will balloon to over 8 trillion now.

NASS members plus aide and all no even reach 2k but the FG has over 700k employees under it. State Govt has their own employees too and then organized private sector too.

Nigeria has an workforce of over 70m people according to statista.

liveLongNprospa:
Lmaoo.. They will manage it sef at this point because with the cost of living, that money no go do much.

Make the government go block leakage because e plenty dieeee

Lmao.. the kind job losses will go happen will be unprecedented.

liveLongNprospa:
You sef.
How does that post mean that we want to earn like NASS?

What does the post mean then? NASS does not need a committee to determine their own wages, they determine their own wages themselves from their own budget.

Minimum wage committee is made up of FG, State Government and Organized Private Sector, each component will contribute before they reach an agreed amount.

Using whatever NASS members earn as salary and allowance as a basis for the outrageous amount they are calling is an exercise in futility.

Infact it makes more sense to showcase the executive reckless spending just like the Hajj 90billion subsidy and the likes as a basis than what NASS earn.

OasisX:


......check the February FAAC, if Minimum Wage is ₦400,000, how many States can really afford it?!

Oyo State has 115,000 civil servants. Lets assumed all civil servants are pegged at ₦400,000 per month multiply by number of civil servants, that will be ₦46 Billions per month. LOL!

Both FG and NLC should stop whining themselves and seat down to negotiate and come to a reasonable wage between 70k - 100k make them round this shit up.

Itsrm:
NLC twitter handler is on fire

This argument doesn't make sense though, if you want to earn nass member salary, resign from work and go join politics and see how easy it is to become a Nass member.

This doesn't change the fact that our NASS salary and allowances is outrageous.

izzou:
[color=royalblue]The FG just needs to step up a little from 60k.

I thought they said it will be 100 abi 120k then[/color]

The problem is not just FG at this point, it is state government and organized private sector, those 2 stakeholders are part of the minimum wage committee and I doubt even organized private sector will accept 100k. Job losses go yapa.

BlueRayDick:
Omo , I just understood the Heritage wahala now. I just read that last year their head of IT diverted 49 billion into third party account and disappeared ; even at a time the bank was having issues with its Capital Adequacy Ratio.

That bank had died a long time ago

Shey I told you there was no recovery path for the bank. Them don run ham into the ground

BlueRayDick:
The more reason why I believe he's too hot-headed to be a government's official spokesperson. He doesn't address issues but dwells so much on politics.

He's at best fit for a political party's spokesperson; a person in which he can attack any opposition party he so pleases. A government's official spokesperson should be cool headed, if possible a public relation expert and not necessarily a journalist who became a poltician

Nothing concern Mr Bayo with all these one you are typing o.

I do agree with your submission though.

Theflint1:
APC has no concrete plans for workers' welfare, so what is labor supposed to put pressure on FG on when there's little that has been even suggested by FG as regards their long-term plans for worker's welfare?

Yea, I agree that the wages of workers need be increased, cause I don't see what APC wants to do even in Tinubu's remaining 3 years that will make any significant change, any reactive government will take this strike as cue to begin working on long-term solutions.

Again go back to the beginning to the discussion to get the context of my post.