₦airaland Forum

Ok

RepoMan007:
Why are the salary earners the hardest hit of all earners in the current wave of inflation ravaging Nigeria?

Because business people will transfer their financial pains to people who are salary earners and rely on salary alone....only salary earners no get customer wey go pay more..

RepoMan007:
Why are the salary earners the hardest hit of all earners in the current wave of inflation ravaging Nigeria?

Their Salary had already been pegged by their Employers before all the Policy changes by Govt.

Lol, I laugh at those who ignorantly laugh at traders

9jabox:
My friend works in a private organization where he’s paid 80k per month. It was actually increased from 69 to 80k after the first fuel hike. The company can’t do another increment after the second hike meanwhile, his transport fare had increased by another 25%.

He works from Monday to Saturday.

His transport fare to and from work is 1500 daily excluding feeding. Dude spends an average of 3k daily for TP and feeding.

Tell me, what is his gain?

The feeding is his gain nothing else

Minimum wage should be changed to hourly pay

Because everything is being increased except salaries.As a businessman if FG comes with increment my customers will need to pay more in exchange for my goods or services,

9jabox:
My friend works in a private organization where he’s paid 80k per month. It was actually increased from 69 to 80k after the first fuel hike. The company can’t do another increment after the second hike meanwhile, his transport fare had increased by another 25%.

He works from Monday to Saturday.

His transport fare to and from work is 1500 daily excluding feeding. Dude spends an average of 3k daily for TP and feeding.

Tell me, what is his gain?

Honour amongst neighbours that he goes to work. Na that one be him gain.

RepoMan007:
Why are the salary earners the hardest hit of all earners in the current wave of inflation ravaging Nigeria?

Because their income is fixed

Business owners adjust accordingly

You keep talking about salary earners, what about the millions of Nigerians who have no jobs.
Even small and medium scale businesses are suffering because the level of competition is so high, cost of production keeps rising; and the demand for their products is falling because the purchasing power of consumers has been drastically reduced.
Everybody in Nigeria is feeling this unexpected, but avoidable heat!!!!

RepoMan007:
Why are the salary earners the hardest hit of all earners in the current wave of inflation ravaging Nigeria?

Even businesses no be when we collect salary They go market?? If salary earners stop going to the market do you think businesses will flow??

Hidewell:
Most salary earners are living far from their place of work.

For instance, I am staying very far from a work of 50k. Transport has eaten all.

My sisters and brother can't go and collect their term results from school because I haven't paid the 65k debt. I haven't defaulted on paying. Now, it's becoming overbearing for me.

I am looking for a miracle to pay up now.No help seems feasible. All hopes looked lost.

Yet I don't know who to blame but myself.

..... Blame your parents.... they should be paying for your brother and sisters.

Because as the inflation hit, it hits the employer also, inflation doesn't cut across only the employee, but every one...

RepoMan007:
Why are the salary earners the hardest hit of all earners in the current wave of inflation ravaging Nigeria?

I Think Even You Should Know, Thier Income Is Fixed

9jabox:
My friend works in a private organization where he’s paid 80k per month. It was actually increased from 69 to 80k after the first fuel hike. The company can’t do another increment after the second hike meanwhile, his transport fare had increased by another 25%.

He works from Monday to Saturday.

His transport fare to and from work is 1500 daily excluding feeding. Dude spends an average of 3k daily for TP and feeding.

Tell me, what is his gain?

Multiply by 6 days equal 18k times 4 weeks that's about 72k, it's a slim chance he would have any meaningful savings.

mariovito:
Other business people can quickly adjust their charges and fee to meet whatever the prevailing economic realities are.

Not same for salary earners.

Salary increase may take long to come for those who get it. And in most cases, the increment won't do much.

You are right business people can adjust, but they too have limitations. When they raise prices, can people pay? Majority of their customers are salary people.
I will give two examples,

1. DSTV Premium back in 2013 was ₦7000 or $50 @₦140.
Today, DSTV premium is ₦24500 equivalent to $30 @₦800.

I used to charge 50k for a service I provided few years ago. It gave me $354.
Today, I charge 140k which gives me $175. If I charge 283k to give me equivalent of what I earned in $$ before, Who go fit pay?
Meanwhile cost of equipment keep skyrocketing due to the exchange rate, clearing fees. How do we replace those tools of trade?

RepoMan007:
In addition, salary earners are under employers of labour who are also experiencing reduced revenue most times and so less willing to effect salary increase to cancel out inflation.

Even if revenue increases, employers are always looking for more of it and may not grant employees an increase.

Welcome To Nigeria.

Hmmm

RepoMan007:
In addition, salary earners are under employers of labour who are also experiencing reduced revenue most times and so less willing to effect salary increase to cancel out inflation. Even if revenue increases, employers are always looking for more of it.and may not grant employees and increase.

This is what foreign Invaders are doing in SW

mariovito:
Other business people can quickly adjust their charges and fee to meet whatever the prevailing economic realities are.

Not same for salary earners.

Salary increase may take long to come for those who get it. And in most cases, the increment won't do much.

Salary differ from salary! Just take notes of that! However, low salary earners are more than the six-figure salary earners!

Only private and contract staff is always affected by inflation,if tomorrow minimum wage is increased it wount affect private workers

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lavylilly:
Multiply by 6 days equal 18k times 4 weeks that's about 72k, it's a slim chance he would have any meaningful savings.

Savings how? When he will buy data, send clothes, hospital bills (when illness knocks) send mummy and daddy something once in a while…. Guyyyyy

mastermaestro:
Honour amongst neighbours that he goes to work. Na that one be him gain.

Sadly, that’s the fate of many a worker today. They’re just going because the don’t to be laughed at by neighbors.

dikings:
The feeding is his gain nothing else

Funny as it may sound, that the truth.

As a single guy that earns 200k plus free bus to work and free accommodation. What is inflation


I thank God for the priviledge tho

Labour Unions have become jokes, toothless dog and inconsequential organization that has long lost its essence. I forsee a time very near in future when workers will stop their employers from deductions to Labour unions as they are just useless and serve m no purpose.

DarkandHandsome:
As a single guy that earns 200k plus free bus to work and free accommodation. What is inflation


I thank God for the priviledge tho

I envy your situation, I used to be that guy even though my earnings then was far lower but I had no reason to borrow money. In fact I used to learn money to people. Because of my age I decided to marry and yeah God blessed me with a kid not long after. See is the reason I'm still in the marriage now. My guy I could go back in time now if it's possible because marriage with any income less than 250k where I live especially now that subsidy removal has rendered salaries useless is invitation to troubled life. I won't lie to you marriage is not as rosy as women want you to believe. It's a complete scam package as achievement so be careful about it.

DarkandHandsome:
As a single guy that earns 200k plus free bus to work and free accommodation. What is inflation


I thank God for the priviledge tho

Ur 200k Is nothing! By the time you decide to do what every person of Age gets to do like marriage, anti Natal , kids school fee, family size rent, etc.. u will realize u came to the party late! Lol! Just de play !

Mosba:
I envy your situation, I used to be that guy even though my earnings then was far lower but I had no reason to borrow money. In fact I used to learn money to people. Because of my age I decided to marry and yeah God blessed me with a kid not long after. See is the reason I'm still in the marriage now. My guy I could go back in time now if it's possible because marriage with any income less than 250k where I live especially now that subsidy removal has rendered salaries useless is invitation to troubled life. I won't lie to you marriage is not as rosy as women want you to believe. It's a complete scam package as achievement so be careful about it.

Lol! Calm down Bro! All those early memo nacks , better food , ur kids beautiful smile...etc makes marriage worth it! All roses have torns bro! Nothing is perfect , even life isn't.