VaginaAcademic:
how does increase in minimum wage result in inflation you go school at all

Those market men and women must also chop from the minimum wage, that's when you'll see them increasing prices of goods and services

yewit37486:


Obi this, Obi that, even on topics that have nothing to do with him, you must call his name. This kind of obsession surely can't be healthy.

they are idiots, too obsessed with Obi

Kosisochukwu12:



Source : https://politicsnigeria.com/civil-servants-demand-n907000-minimum-wage-give-reasons/

the point is that federal government has their own minimum wage in mind, which is in between 100k,200k maximum. Labor is just making too much noise, mind you that we have not added their levels and also steps too.

Namaster:
No one is going to pay #907k minimum wage in Nigeria. Not even in the next 35 years.

Imagine the ripple effects. Inflation will take off like a rocket launched by Spacex.

Leave them....approve it and see a rent of 100k become 1M over night.

VaginaAcademic:
how does increase in minimum wage result in inflation you go school at all

You that went to school so the request makes sense to u? Pls don't aspire for any leadership position to avoid more headaches

Namaster:
No one is going to pay #907k minimum wage in Nigeria. Not even in the next 35 years.

Imagine the ripple effects. Inflation will take off like a rocket launched by Spacex.

How about reducing the millions earned by govs, president, ministers, lawmakers etc. it's not just inflation, it's the impunity of enriching the few. Let everyone earn meagre and we know it's cos of the economy

malali:
Its never the wage, its what it can purchase.
and the quality of life it can afford you.

Salary has never made anyone rich
Stop trying to get rich with salary.

I know of a head of marketing in a big telecommunications company earning more than 1.5 million naira monthly minus bonuses. Some Army generals earn more than 1 million naira monthly.
Many senior directors in multinational coys(Jp Morgan, British American Tobacco coy, Microsoft Nigeria, PwC, GSK before exit, e.t.c) earn more than 1 million naira monthly.

Owing to the fact that many of these people have kids that are already independent, it makes them relatively rich from their salaries.

Even young graduates with a few years of experience earn as much as 500k naira a month at Oil and Gas industry.
Young programmers with a few years of experience earn about 500k to 2 million naira at foreign companies(remote work).

Owing to the fact that these young people might be yet to start a family, it makes them relatively rich from their salaries.

People can get rich from salaries!

VaginaAcademic:
how does increase in minimum wage result in inflation you go school at all

Simply reread the comment you quoted and stop asking senseless questions.

Goodlady:

How about reducing the millions earned by govs, president, ministers, lawmakers etc. it's not just inflation, it's the impunity of enriching the few. Let everyone earn meagre and we know it's cos of the economy

Perfect talk but who does the reduction? The same people that won't let the country breathe?

Civil Servants deserve more.

Namaster:
No one is going to pay #907k minimum wage in Nigeria. Not even in the next 35 years.

Imagine the ripple effects. Inflation will take off like a rocket launched by Spacex.

while other useless sit warmers are busy collecting 500 million

LINSAR:


I know of a head of marketing in a big telecommunications company earning more than 1.5 million naira monthly minus bonuses. Some Army generals earn more than 1 million naira monthly.
Many senior directors in multinational coys(Jp Morgan, British American Tobacco coy, Microsoft Nigeria, PwC, GSK before exit, e.t.c) earn more than 1 million naira monthly.

Owing to the fact that many of these people have kids that are already independent, it makes them relatively rich from their salaries.

Even young graduates with a few years of experience earn as much as 500k naira a month at Oil and Gas industry.
Young programmers with a few years of experience earn about 500k to 2 million naira at foreign companies(remote work).

Owing to the fact that these young people might be yet to start a family, it makes them relatively rich from their salaries.

People can get rich from salaries!

He meant to say wealthy.

Those you mention could be termed rich but never wealthy. Why? Their source of income is from their job so when they stop working then no income for them.

No salary work will give you passive income and passive income is the key to wealth.

Tayorshd87:


A lie what Abt emefiele

lol . even Oga Bubu, if not for salary what would Oga Bubu have become in life ?

Who go pay The N900k for minimum wage N35k thy never pay 🤣🤣🤣🤣

Who are the dumb people negotiating this, how can you demand 900k as minimum wage...

300k sef will cause hyperinflation not to talk of 900k as minimum wage.


Once minimum wage gets to 300k, 200naira will be as useless as 50naira now.

SoNature:
Shut down the House of Reps or Senate to pay civil servants well. However, the civil servants must be given targets and timeframes for reaching certain goals. Nigeria doesn't need two houses - House of Reps and the Senate. That's waste of scarce resources.

Civil servants wey lazy pass anything

SoNature:
Shut down the House of Reps or Senate to pay civil servants well. However, the civil servants must be given targets and timeframes for reaching certain goals. Nigeria doesn't need two houses - House of Reps and the Senate. That's waste of scarce resources.

Pay them.well
Why?
Why should they be well paid?
Why does well paid men
Is the pay a gift of a grant?
Are they working well?
People should be paid because they add value
So even.though this government is not bold enough to say so it should be thinking about sacking thousands of them.

Even you run a shop that makes 10 million a month you cannot spend ten million on salaries

So we must analyse every job to.see whether it is justified
Many civil servants are on the payroll that do not have desk not to.talk of office

bestman09:

This is actually less than $600. Many people will argue that we don't spend dollars in Nigeria but the car you drive or the cab/bus you enter were actually bought with dollars. Many things like building materials and even foods are bought with dollars, so in essence, N907,000 may not be realistic to ask for but in reality, every sensible person knows that it is actually A MINIMUM WAGE!

You're completely right. Can a civil servant but car in Nigeria today. But in US with less than $3k dollar you can buy a car as a civil servant, you can even loan a car and pay by instalment over many years?
That same $3k dollars can't buy a fairly used car in Nigeria today

Lazy workers want federal government to make them billionaire

Job don't make people rich

Services do

So rendered values and see wealth
Most of the workers are absentees and

Habitual late comers.

Namaster:
No one is going to pay #907k minimum wage in Nigeria. Not even in the next 35 years.

Imagine the ripple effects. Inflation will take off like a rocket launched by Spacex.

I think the real question should be :
What is the true living wage that should be paid for Workers in Nigeria!

N60k
N120k
N250k
N500k.... etc

Our politicians spoilt our economy, should they care that living wage will cause inflation?

DIVINEEVIDENCE:
Obviously these clowns don't even understand basic Economics.

If an average worker earns ₦907k, a bag of rice would be sold at around ₦800k- ₦1 million, Toyota Corolla toks would jump to around ₦15 million Naira.

Now, imagine that a loaf of bread used to sell for GhC 500 and ₦100; if we pump more Naira into our economy with the currency of Ghana remaining constant; that same loaf of bread might jump to ₦2, 500 while Ghanaians who didn't experience a currency disturbance would still buy that same loaf at GhC 500.

In other words, whereas GhC500 used to be equal to ₦100, it would now be economically equal to ₦2, 500.

These guys think they'll be able to afford commodities if they're given more cash, not knowing that the economy is not only run by salary earners.

It's only a matter of time and they would start buying same commodities at higher prices, with no increase in value.

Government should simply tighten looting loopholes, create an enabling environment for businesses to thrive and increase local production.

This is the only way to make workers comfortable in the long run and still maintain a robust economy.

Organised labour matter too dey tire me...

very good I like it when people reason and sound objectively.....u tried ....Is obvious those greedy lots don't under the after effect of wage cost push inflationary spirals .....Attend economics ss2 class, the mumus will not now, see where their demand lies ......when salaries are increased, the disposable income and purchasing power index becomes shortened due to the greed and selfishness of Nigeria market forces .....which tends to acts fast on the arbitrary price fluctuation.......(galloping and hyper inflation) thus limiting the face value of the wage rate .......the value of currency is should not be based on the net injections nor circular flows but rather based on face value .....this is wat many nigerians don't know


To them if ur salary is increased from 50k to 1 million it automatically means ur now ok ....NO......it simply means ur marginal propensity to consume has now increased.
To this end, market forces will quickly swing into action to limit the value of ur currency at the end with increament in salaries over time, nothing changes .......ask ur self how come rite from 80's till date money has been getting increased in value but Nigeria still remains poor ...
Bcus our currency value is tied to accumulations and money velocity instead of face value ......unlike UNITED STATES OF AMERICA

Badmashiii:


He meant to say wealthy.

Those you mention could be termed rich but never wealthy. Why? Their source of income is from their job so when they stop working then no income for them.

No salary work will give you passive income and passive income is the key to wealth.

You can use salary to get a passive source of income.

Look at Tony Elumelu of UBA, Late Herbert Wigwe of Access bank, Ibukun Awosika of First bank, Okonjo Iweala of Word Trade Organization, and many more.

They are all wealthy!

malali:
Its never the wage, its what it can purchase.
and the quality of life it can afford you.

Salary has never made anyone rich
Stop trying to get rich with salary.

Salary can never make anyone rich the biggest lie. The CEOs of fortune big 500 nko? Because Nigerians are used to the culture of poor salary does not mean we should defend it. This country can conveniently pay civil servants that and nobody will die

millstone:


Salary can never make anyone rich the biggest lie. The CEOs of fortune big 500 nko? Because Nigerians are used to the culture of poor salary does not mean we should defend it. This country can conveniently pay civil servants that and nobody will die

Are you producing what the CEO of fortune 500 is producing ? Do they even use your services in the 36 states talkess 5 continents in the world ?Lions call meeting cat wan go , im say dem be cousins.

LINSAR:


I know of a head of marketing in a big telecommunications company earning more than 1.5 million naira monthly minus bonuses. Some Army generals earn more than 1 million naira monthly.
Many senior directors in multinational coys(Jp Morgan, British American Tobacco coy, Microsoft Nigeria, PwC, GSK before exit, e.t.c) earn more than 1 million naira monthly.

Owing to the fact that many of these people have kids that are already independent, it makes them relatively rich from their salaries.

Even young graduates with a few years of experience earn as much as 500k naira a month at Oil and Gas industry.
Young programmers with a few years of experience earn about 500k to 2 million naira at foreign companies(remote work).

Owing to the fact that these young people might be yet to start a family, it makes them relatively rich from their salaries.

People can get rich from salaries!

lol....thats not rich, thats ability to pay your bills, none of that money can buy a plane ticket abroad......none!

allthingsgood:


Same salary your parents used to train u

Salary didnt make them rich either.

Sheuns:


How do Nigerian politicians get rich?

Most embezzle funds meant to develop community.
Not from salary

Tayorshd87:


A lie what Abt emefiele

He embezzled funds.

malali:


Salary didnt make them rich either.

So 900k will make you rich in todays Nigeria
Clearly speaking from a place of poverty

allthingsgood:


So 900k will make you rich in todays Nigeria
Clearly speaking from a place of poverty

Salary does ot make anyone rich.

malali:


Salary does ot make anyone rich.

so if u know that, why did u post the earlier rubbish

Soulsymbol99:
Minimum wage no go pass 50k una go see am. No be naija govt again very insensitive govt.

it will be between 60 & 70.
Let's see what the next 2 months bring.