₦airaland Forum

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?

Keep quiet!

helinues:
Would the money be enough to match up with the Labour unrealistic proposal?

Ask your principal and if it can't, return subsidy, defend naira and return exchange rate and petrol price to where they met it.

helinues:
Where do you expect government to get the money from to pay the N500k the Labour union are demanding.

Sebi na solutions we dey find to the issue on ground right, oya advise government in your own capacity

Did they government sought for advice when the made the decisions that took the country to ruins? Why seek for someiti clean their mess? They should deal with it.

Scarcity234:
Keep quiet!

Reply with fact and figures not emotion

It's election you lost not brain

oluwaseyi0:
Reply with fact and figures not emotion

It's election you lost not brain

Who is replying with emotion? You chose to pull out figures to support your failed president while leaving the damage caused by his decisions and you deem yourself objective?
What's the percentage increase in exchange rate, petrol price and food stuffs? How about house rents?

Your failed principals are offering a less than 100% increase in minimum wage while their decisions has caused increase in cost of living by over 300%.


And yeah, I didn't loose my brain. You lost yours, the reason you keep supporting faliures that have continued to drag the nation to ruins.

Let every govt official be paid 57000 as salary if d accept let it be so since everyone are buying from d same market not when tax payers money are use to feed your family den u feel 57000 is too much in this quamire economy tinubu brought with his policy of taxing every kobo in one acct.

helinues:
Sometimes, I don't know if some of you guys just want to be arguing for arguing sake.

You no do basic economy in secondary school?

Who is deceiving you that minimum wage causes inflation. You are following book, I laugh at you. The current inflation in the country since 2015 what then caused it? People create curriculum in school and give it to you telling you this and that and you take it as law. What causes inflation in Britain, USA and some developed countries? Was it minimum wage? Minimum wage doesn't cause any stupid inflation but government policies. Minimum wage will bring better standard of living for those working in government and private industry.

oluwaseyi0:
You are the one who is outrightly incapable of using his head, I'm a business owner and there is no way on earth I can afford to pay my support staff 500k each, what revenue is their impact generating for cleaner to think he will take home 6m per year

Infact some bakery around me can't even declare 6m naira profit at the end of the year, yet you think they will pay each mixer, each driver, each marker 6million naira per year, If I pay my cleaners 6m per year how much will I pay operating managers?

Sometimes I wonder if it's election you lost or your brain, I don't give a Bleep about your governor or your president but to you everything is politics with senseless bitterness

You are hell bent on proving my point. You and who lost election?? Lmao are you hallucinating or what? You think I'm like your cohorts? If you don't give a Bleep about anything else (which is fine by the way), at least give a f#ck about your mental state of affairs, if not for anything at least do it for those around you and those who have to read things you post, like what you put up there

toprealman:
90billion for Hajj
Billions on cars for parliamentarians
Yet no money?

These are very bad policies. They are part of what is causing inflation. #500k minimum wage is just going to be additional policy that will neither help workers nor the economy but damaged the economy the more.
Once upon a time was udoji award which lay the foundation to our current economic problem

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 N8500 bag of rice to N70,000.

helinues:
What's the population of those countries to start with?

ur question should be wat percentage of people are employed.nigeria has d highest rate of unemployment

Ofunaofu:
If the government has the capacity to provide N90 billion for pilgrimage, then they should have the capacity to fund the 400k minimum wage.

After all, subsidies have been removed, so more money has been made available to the government.

The pilgrimage you talking about is once a year. Do you know that the government Do more of that for Christian’s going to Jerusalem yearly ? Infact , it’s totally free and slots are given.

bluebay:
The pilgrimage you talking about is once a year. Do you know that the government Do more of that for Christian’s going to Jerusalem yearly ? Infact , it’s totally free and slots are given.

When I mentioned pilgrimage, I was referring to both Christian and Muslim pilgrimages.

But why should the government sponsor pilgrimages?

bentenny:
To the defenders of the FG....I have a question for you!
Can you break down #57k into transport cost,food, shelter and utility bills?

Same question

Amya:
From my understanding, minimum wage would only apply to public workers and some private company workers ( companies with over 50 workers) So any private company with less than 50 staff can pay whatever they want. Companies like bank, manufacturing companies etc would pay the minimum wage too.

Minimum wage would apply to the workers that do cleaner type jobs etc. When minimum wage is increased, it automatically influences increase in higher up positions. So a bank teller earning 200k would have their pay increased to the general minimum percent increase. So if the minimum wage is increased by 1000% percent the new rate would be like 300k in comparison to current minimum wage, the bank teller would also make 2million per month etc. So an increase in minimum wage has a big residual effect.

When the minimum wage has a huge margin increase like the 500k being proposed, it's going to trigger the biggest inflation ever. Similar to that what happened to Zimbabwe. The currency would lose great value and the Naira will be completely worthless. Things like bag of rice would cost like a million naira, while things like house rent would have close to a 1000% increase. People who fall under the umbrella of the 500k will still live impoverished lives and be considered poor. Nothing would change really.

To the defenders of the FG....I have a question for you!
Can you break down #57k into transport cost,food, shelter and utility bills?


Below #500k would be considered poor are we not poor already?

helinues:
Sometimes, I don't know if some of you guys just want to be arguing for arguing sake.

You no do basic economy in secondary school?

No wonder you have been talking nonsense everywhere. You only have a textbook understanding of basic economics theory without practical experience of how it can be applied to real life situation. You finally exposed the level of your education.

Minimum wage can only cause inflation when a significant number of Nigerians are going to receive it. Nigeria is not UK or US where every worker receives minimum wage .
Less than less 5 percent of workers in Nigeria receives minimum wage, not enough to cause hyperinflation. .

If the one of workers will result to inflation in Nigeria,then those of your senators and house of Rep members who earn millions monthly should also cause inflation .

legallysly:
A very lucid and realistic analysis of this mess in which we have found ourselves.

Your proposals are top notch and are a sharp reminder of why Nigerians are hailed for their brain power all over the world.

It bothers me that some people are just interested in 'tanking' the economy so that they can say 'we told you so'. I am looking at my Secretary right now and I can barely afford to pay her curent salary which is less than 100k per month. How do I pay 200k per month (whether I make money or not)? I will not even consider the possibility of paying 250k, or worse, 500k to the least paid worker in an establishment. The ripple effect on the economy will be catastrophic.

The current minimum wage did not get us here, years of mismanagement of our various sectors (especially 8 years of Buhari's economic missteps) did.

If this currrent government has abandoned subsidy (it had no choice really as the outgoing government made no provisions for further payments beyond June 2023), it is ostensibly to channel the funds, some of which allegedly went into some peoples' pockets for doing nothing, into areas where they would be more useful.

I would assume that was the reason for floating the Naira as well. Previous governments before now, had spent a lot of money defending the naira and keeping the dollar at bay. Unfortunately, the last administration (Emefiele, in particular, will go down as the worst CBN governor we have had in a long time) did us no favours as it continued to defend the naira even when it was clear that this was unsustainable amidst low crude oil production, a comatose manufacturing industry and its terrible policies. I won't even go into the irresponsible loans that the CBN, through NIRSAL MFB, granted to Nigerians. Now that Nigerians are paying back through their noses, can we not all agree that such policies only made them poorer in the long run?

The naira will eventually find its level and the traders among us who sell imported goods can also help to bring down inflation by applying the new tax rates only to newly imported goods and not to those that they have had in their shops since last year.

The government (especially customs) should also reduce the tax rates and levies on imports (at least until the fog clears a bit) as the traders will only redirect the taxes and levies to the consumers who are essentially overpaying for old and (in some cases) substandard goods.

I firmly believe that the inflation we are currently experiencing in Nigeria at the moment is highly artificial and solely depends on we Nigerians. We already know that when the refineries start working and we reduce importation of fuel, while exporting refined products (hopefully with the Naira as the primary transactional currency), our local currency will grow stronger and imports will no longer cost as much. What we do not know (or appear to ignore) is that the traders will be reluctant to reduce prices. Prices in Nigeria hardly come down once they have gone up and this has more to do with the greed of the average Nigerian seller than anything else. They believe they will be selling at a loss and will therefore sustain those high prices until their old stock is cleared. This is one of the major killers of our economy. When a foreign used 2010 Toyota Camry which is 14 years old, costs upwards of 9 million naira, you know there is a massive problem. It will develop problems after a year and you will be back in the market for parts which will cost an arm and a leg, along with the other unrealistic fees that mechanics charge these days. When the inflation eventually comes down and the Camry is back to its regular N3,500,000.00, the unfortunate fellow who bought it at nearly 3 times the normal price is left to rue his loss. These are personal demons that we must, on our part, strive to exorcise before blaming the government. If we peg our minimum wage at 500k at this critical time, I can assure you that the current inflation will sound like a tea party compared to what will come next. It is therefore a bit worrisome when you realise that those calling for such an astronomical increase in the minimum wage know this too and it only leads me to inevitably conclude that this is just another power play towards 2027. If the economy is in tatters and we have become another Zimbabwe (my profound apologies to Zimbabweans here present), how will the current administration even dream of coming back?

More importantly, will such an unrealistic minimum wage, if implemented, not drive more workers to seek employment with public and government owned institutions while leaving those who remain in the private sector to fleece their employers to death? Eventually, both the public and private sectors will groan from the excessive financial load and ultimately crash; another cautionary tale for the greedy and hasty.

If you're having less than 25 staff in your payroll, you are exempted from minimum wage. That's what the minimum wage act says

Please try to Google the minimum wage act signed into law by Buhari in March 2019 to know everything concerning minimum wage and why labour is proposing 500k

A lot of persons are ignorant of the law and because of that keep insulting labour leaders as being unrealistic when they're not.. They're following the law and that's why the government is begging them to accept what they can pay.

Billmos:
Let every govt official be paid 57000 as salary if d accept let it be so since everyone are buying from d same market not when tax payers money are use to feed your family den u feel 57000 is too much in this quamire economy tinubu brought with his policy of taxing every kobo in one acct.

I like this Idea but their salary should be within 500k to 1m with no allowance let's feel the heat together. No purchase of car's for them

SpecialAdviser:
Anybody that takes LABOUR and FG serious is a mad man. Both of them can go to hell for all that I care.

The only reasonable comment here!

You take these f00ls called Labour serious at ur own peril!

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

Hear yourself talk.How did fuel jump from 165 to 839,or how did 1kw of electricity jumped from #66 to #257,or to talk of a place u usually will spend 500 to get to work u now spend as much as 1300.Or is it the high cost if living. Are u in this country at all

Ofunaofu:
Are you saying that in your secondary school, you were taught 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 N30,000 minimum wage

Never again you should gloried internet troll with your intelligent comment

Bamss1:
Mr critical thinker, the way to stabilise an economy or reverse hyper inflation like we have is not to pump more money in. It will only get worst.

No... That is not the way. Things are as well expensive or even more in developed nations. The issue is the government must increase the purchasing power of the workers. Things are expensive out there, so is their minimum wage.

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

Government can cut it's spending
Cut humongous money given to lawmakers
Fight corruption with full force.
Transact in our indigenous currency.

Those are enough to generate money.

Ofunaofu:
When I mentioned pilgrimage, I was referring to both Christian and Muslim pilgrimages.

But why should the government sponsor pilgrimages?

Really ?

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 #220 to #850?

helinues:
[b]
They are being realistic with N500k as minimum wage?

[/b]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

But they can pay senators and HoR tens of millions of naira in monthly salary easily and realistically..?

R u in gvnmt?
O I see ...

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

Na by that dem go come agree for 90k-150k na.

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

Capernum:
No... That is not the way. Things are as well expensive or even more in developed nations. The issue is the government must increase the purchasing power of the workers. Things are expensive out there, so is their minimum wage.

Tell them o ...
My man, these guys you are arguing with are devil incarnates, they have completely lost their minds.

Bamss1:
How much do you think you will pay for all these items you mentioned if the least worker is paid 500k? Am not saying wages should not be reviewed but 500k is not realistic or advisable.

In my opinion, between 100k and 150k is realistic, the money is there to take care of this and to even pay much more but due to the corruption in the government - misappropriation of public funds, embezzlements and the likes, they assume paying such an amount is outrageous.

All the funds (millions/billions or dollars) they have recouped from the greedy political leaders both past and present which some of them the media has brought to public knowledge, has they be accounted for? Where are the funds now? But to peg a substantial and reasonable amount on minimum wage for people who voted them into power becomes something they frown at with disdain.

samcolee:
To the defenders of the FG....I have a question for you!
Can you break down #57k into transport cost,food, shelter and utility bills?


Below #500k would be considered poor are we not poor already?

I'm not a defender of FG and my point is with any huge increase of the minimum wave which will have a ripple effect to higher levels and that will not necessarily improve the standard of living but rather change the value of the Naira.

That 500k will have the same value as 30k of today. That's my point. Naira is just a worthless piece of paper, it's just the value attached to it that makes a difference. The govt can just go ahead and mint trillions to satisfy the people but that would only lead to massive inflation.

Amya:
I'm not a defender of FG and my point is with any huge increase of the minimum wave which will have a ripple effect to higher levels and that will not necessarily improve the standard of living but rather change the value of the Naira.

That 500k will have the same value as 30k of today. That's my point. Naira is just a worthless piece of paper, it's just the value attached to it that makes a difference. The govt can just go ahead and mint trillions to satisfy the people but that would only lead to massive inflation.

Now I understand you.