₦airaland Forum

Coolestguy2023:
No wahala, let us see if every state will be able to pay including the private sector and domestic workers.
There are down sides to this which many ignorant people don't know.
1. Most private companies or even government will downsize which would lead to massive loss of jobs.
2. Those that don't downsize will increase the cost of there products and services rendered.

Last last, inflation will skyrocket and that 100k will just be like 30k in the hand.

LET IT BE, BUT LET THEM PAY, YOU MUSTN'T BUY. IF PATRONAGE DROPS, PRICE WILL DROP

Jmk9292:
Reviving the economy and currency value outweighs every agitation for wage increase.

How do you revive the economy without increasing the purchasing power of the people?

This is the koko of the whole matter;

Though the union leader refused to mention a specific amount, he said the new minimum wage must be equal in purchasing power to the value of N30,000 in 2019 and N18,000 in 2014.

Wetin be 100k?

Please demand for efficient Power supply we can't be kept unproductive and expect our currency would have value. I haven't seen light since morning. How do I compete globally ...not surprised the Minister Of Communication has to divest into Agriculture because he needs to show something real he has achieved.

CyracksMrBlogger:
The moment the president announce minimum wage, cost of things in the market will skyrocket. They will start blaming Tinubu again. A minimum wage that only Federal civil servants will benefit. Make we dey see na

THAT IS A BIG LIE. IS THAT WHAT YOUR ECONOMICS TEACHER TAUGHT YOU?

100k is a good deal, it remains to be seen is government will accept that

Islie:
•President orders minister to calculate cost, Labour gives one-week ultimatum



https://punchng.com/minimum-wage-talks-labour-considers-n100000-as-tinubu-issues-ultimatum/?amp

so NYSC corpers would be paid 100k?

Please is it possible to do Nysc again like if your university mobilize you again?

Bag of Rice

Islie:
•President orders minister to calculate cost, Labour gives one-week ultimatum



https://punchng.com/minimum-wage-talks-labour-considers-n100000-as-tinubu-issues-ultimatum/?amp

When it comes to paying a good wage for civil servants we tend to drag feet and bring all manner of talks, competence, skills, productivity.

Please why has the competence, skill levels/set, productivity of the legislature not show the development strides of the nation and yet they take home such humongous amount of salary?
Their functions as senators does it pemit that they receive such salary even when the nation is in such unproductive state?

UNNGRADUATEEE:
so NYSC corpers would be paid 100k?

Please is it possible to do Nysc again like if your university mobilize you again?

Shouldn't they .. They should be motivated to serve their country and that's one of the motivation...

Ajaero is a lion . The strike will resume if the demands are not met.

lexy2014:
but why have you not asked yourself why those in power have not cut down on wasteful spending to accommodate improved salary for workers?

how will the increased salary result in inflation?

is that what caused the inflation that has been ravaging the country since tinubu came to power?

I hate to say it but I think he's right. The initial cause of the inflation was clearly from our leaders but the increment of wages MIGHT also add to the inflation especially if the govt borrows/prints more money to pay.

And I also agree with you that the right way to go is for those in power to cut on wasteful spendings to accommodate the improved salaries.

In fact, a wiser approach would be to introduce maximum wage. And that maximum wage should not be 10X more than the minimum wage. Therefore even at 30k, our leaders take home will be capped at 300k. You'll be surprised how immediately minimum wage will rise to 300k without striking 😁.

Silentgroper:
Shouldn't they .. They should be motivated to serve their country and that's one of the motivation...

please how can I go for Nysc again?

The enemies of nigeria in pain now. God bless nigeria.

wirinet:
How do you revive the economy without increasing the purchasing power of the people?

This is the koko of the whole matter;

It is a chicken and egg situation. The economic output of Nigeria is N150k per head a month. The problem is not purchasing power. The problem is output. I stress like I always do that this 150k is not the output of the minimum wage worker this is the output of the average worker. How can you pay someone more than his economic output?

In a country like the UK or the US. The economic output per head is multiple times the minimum wage.

Our problem is not purchasing power, our problem is productivity aka low output of workers.

So long as we continue to be a nation of unproductive workers, any wage increase will be swiftly gulped by inflation and we are back to square one. In fact we are heading backwards because with a GDP per capita of N150k a month, there is no money to pay these proposed wage increases. Civil servants will get their pay increases but expect massive job losses elsewhere.

Coolestguy2023:
No wahala, let us see if every state will be able to pay including the private sector and domestic workers.
There are down sides to this which many ignorant people don't know.
1. Most private companies or even government will downsize which would lead to massive loss of jobs.
2. Those that don't downsize will increase the cost of there products and services rendered.

Last last, inflation will skyrocket and that 100k will just be like 30k in the hand.

chaiman ur comment make sense I swear

Chinjo2:
I know that's where they were heading. If Edo can pay 70k why can't FG pay 100k?
I thank Obaseki for raising the bar.

Fg is for all workers,, But in Edo state, my neighbour who is a health worker told me governor did not include them in the 70k minimum wage

UNNGRADUATEEE:
please how can I go for Nysc again?

I haven't the slightest idea .

Chinjo2:
Do you know how many people have lost their jobs since Tinubu became president? Do you know how many companies have folded up?
Was it because of salary increment that inflation rose from 28.92 under Buhari to 33.69 in just one year of Tinubu regime?

why are you responding to this illiterate, they just do copy and paste, is it every wage increase that causes inflation, the wage increase here is meant to catch up with inflation, the economy is in a disequilibrium can't they see that
This is not a case of too much money chasing few goods ,this is a case of over flowing warehouse without corresponding purchasing power ,that is what the wage increase is to address

Babysho:
I hate to say it but I think he's right. The initial cause of the inflation was clearly from our leaders but the increment of wages MIGHT also add to the inflation especially if the govt borrows/prints more money to pay.

And I also agree with you that the right way to go is for those in power to cut on wasteful spendings to accommodate the improved salaries.

In fact, a wiser approach would be to introduce maximum wage. And that maximum wage should not be 10X more than the minimum wage. Therefore even at 30k, our leaders take home will be capped at 300k. You'll be surprised how immediately minimum wage will rise to 300k without striking 😁.

There's no proof that if they increase wages that there will be inflation other than it's just typical theoretical economic talk.

It is said that the approved UN wage for one who lives above the poverty level should be $2 per day and we all know how much that is in today's exchange. But even at that we can't settle for such because the Naira holds no much value and no significant purchasing power even in the hands of a nursery school pupil.
Why don't our so called leaders ensure the economy is truly working rather than this trial and error approach and artificial inflation we experience.

Tinubu will still tax them the money 10,000*.

Islie:
•President orders minister to calculate cost, Labour gives one-week ultimatum



https://punchng.com/minimum-wage-talks-labour-considers-n100000-as-tinubu-issues-ultimatum/?amp

Labour's demand for 494,000 Naira minimum wage is not unrealistic

Chinjo2:
Do you know how many people have lost their jobs since Tinubu became president? Do you know how many companies have folded up?
Was it because of salary increment that inflation rose from 28.92 under Buhari to 33.69 in just one year of Tinubu regime?

oga inflation teacher wetin come be ur point ?

From 2016- 2018 I could remember I use to buy paint of garri N300, then minimum wage was around N30,000

Let do the maths

30,000/300 = 100 paint

So then I could buy 100 paint rubber of garri with 30,000



Now paint of garri is N3,600

From the ongoing discussion about federal government proposing N100,000 minimum
wage

Let's do the maths

100,000/3,600 = 28 bag approximately

Meaning from 2016 - 2018 I can buy 100 paint of garri with minimum wage of N30,000

2024 using minimum wage of N100,000 I can only buy 28 paint of garri. The difference is so
much.

Still this politicians are still not concerned to raise the minimum wage


This does not include other cost of things o

Nigerians are suffering and are being subjected to poverty because of bad leaders more expecially APC




Let's do the maths

Coolestguy2023:
No wahala, let us see if every state will be able to pay including the private sector and domestic workers.
There are down sides to this which many ignorant people don't know.
1. Most private companies or even government will downsize which would lead to massive loss of jobs.
2. Those that don't downsize will increase the cost of there products and services rendered.

Last last, inflation will skyrocket and that 100k will just be like 30k in the hand.

In other words?

harvest season is fast approaching ...fall in food stuff prices inevitable to cushion any inflation

jrizlybey:
Way to go. But the value of that 100k might have halfed in real sense in the next 6 months from inflation. The rate at which inflation has been biting only God can save us now.

The will.not get 100k....BAT will give them 75k

100k is nothing but a valueless figure compared to the take home of those law makers. That NLC shouldn’t settle less than 450k , after all the civil servant are the ones working the work. So therefore let the poor live.

ALLNIGERIANSMAD:
uNa see say NLC don try now oh, this Oloriburuku man called Tinubu will still mess up just wait and see

How will common people benefits from the Salary increments.

Inflation on it's way

lexy2014:
were is the half bread?

exactly nigerians are not even seeing the half bread
them just dey suffer us for nothing

https://www.youtube.com/watch?v=U48DKuadQvI
this video should be able to shed more light

SporaD8:
What is the use of N1m that can't buy you toothpick?
Even if minimum wage is reset to N5000, but with higher purchasing power, then the strike would have been worthwhile!
Tinubu should open southern border, insecurity has crippled Agriculture up north. Let's flood the market with Rice and Chicken from Seme, Honey Beans from Cameroon and nobody will remember strike again.

Is it not the same blood that runs in the body of the Northerner that runs through you....

Why can't you start your own farm and let ppu come. To you and buy

casualobserver:
It is a chicken and egg situation. The economic output of Nigeria is N150k per head a month. The problem is not purchasing power. The problem is output. I stress like I always do that this 150k is not the output of the minimum wage worker this is the output of the average worker. How can you pay someone more than his economic output?

In a country like the UK or the US. The economic output per head is multiple times the minimum wage.

Our problem is not purchasing power, our problem is productivity aka low output of workers.

So long as we continue to be a nation of unproductive workers, any wage increase will be swiftly gulped by inflation and we are back to square one. In fact we are heading backwards because with a GDP per capita of N150k a month, there is no money to pay these proposed wage increases. Civil servants will get their pay increases but expect massive job losses elsewhere.

The output is directly related to the purchasing power.
Let me give a typical example. If you produce more goods than the people are able to purchase, your will have excess inventory in your warehouse, now that would not have been a problem if you can export, but then apart from our products not being price and quality competitive on the international market, government policies and corruption make Nigeria very export unfriendly. Now revenue reduces which will lead to closure or reduction of work force, which further reduces purchasing power of the people.
I live in Ikorodu. Ten years ago Ikorodu was a manufacturing base for local, Chinese and Indian. PZ, Dangote, Spintex were major manufacturing companies hiring thousands of people. Today, most of them have left or downsized their operations. Major international companies are fleeing Nigeria in droves and relocating to other African countries. Why? Because Nigeria's purchasing power is about the lowest on the planet.