₦airaland Forum

AmiableMosquito:
This is not only wrong but very misleading.

That was what A.I told him

I asked A.I the same question. I was just laughing at A.I until A.I now ended with a clause that the employer can decide different method. A.I is truly intelligent!

theowane:
That will be the job of the National Salaries Income and Wages Commission and it will depend on the Conolidated salary structure. The higher your Grade level, the lower the percentage increase. For example, in 2019, when the minimum wage was increased to 30K, the consequential adjustment for core civil servants ie Consolidated Public Service Salary Structure (CONPSS) was:
GL 07 -23.2 per cent, GL 08 -20 per cent, GL 09 – 19 per cent, GL 10 – 14 is 16 per cent, while GL 15-17 is 14 per cent

This very correct

theowane:
That will be the job of the National Salaries Income and Wages Commission and it will depend on the Conolidated salary structure. The higher your Grade level, the lower the percentage increase. For example, in 2019, when the minimum wage was increased to 30K, the consequential adjustment for core civil servants ie Consolidated Public Service Salary Structure (CONPSS) was:
[/b]GL 07 -23.2 per cent, GL 08 -20 per cent, GL 09 – 19 per cent, GL 10 – 14 is 16 per cent, while GL 15-17 is 14 per cent[b]

Will this percentage be that of salary or of the increment in the wage
Let's say the MW moved from 30-90k
Will the increment be a percentage of the 90k or of the salary each level was collecting before?

Chimarto:
Calculation of New Salary Based on Minimum Wage Increase

1. **Current Salary and Minimum Wage:*
- Current Salary: 105,000
- Old Minimum Wage: 30,000

2. *New Minimum Wage:*
- New Minimum Wage: 100,000

3. *Difference Between New and Old Minimum Wage:*
{Difference} = 100,000 - 30,000 = 70,000

4. *Percentage Difference Between Old and New Minimum Wage:*
{Percentage Difference} = {100,000 - 30,000}{30,000} \right) \times 100 = 233.33%


5. Calculate 233.33% of Current Salary:
{Amount} = \left( \frac{233.33}{100} \right) \times 105,000 = 244,996.50


6. New Salary Calculation:
{New Salary} = 105,000 + 244,996.50 = 349,996.50

New Salary: 349,996.50

This is misleading

[quote author=Chimarto post=130338849]The calculation is CURRENT SALARY X NEW MINIMUM WAGE ÷ OLD MINIMUM WAGE[ why are you saying what you don't know? Stop misleading people.]

Beautifulday:
It can't cause inflation. We just like blowing grammar we don't know what it really means and how it work.

You just show small proof from the minimum wage of a thing. You see how that guy understood it? Different people have different understanding too.

How many people are really employed in the public sector? How much do Nigeria pay as salary per month?

With a population of 200 million, minimum way of 500k for 10 million workforce will be like a drop of water in an ocean.

If 200 million people are paid 100k per month in a population of 200 million country, it can't even cause inflation. This is because these 200 million are paid according to their labor. They can't just make a purchase. They factor their labor into their purchases.

You see, they purchase their needs most times more than their want.

What causes inflation is free money in circulation. E.g if a yahoo boy make 100k in a month, he is ready to burst that same 100k a day on what doesn't have value to him. Because his purchases doesn't have value to him, he is willing to pay more than it's value.

The consistent payment for goods and services above their value is what causes inflation.

The bolded is very important

There are still inflationary trends to be circumspect should the new minimum wage reflect across board in the civil service (which I understand isn’t usually the case). Nigeria not being a production based economy will be one of the driving forces towards hyperinflation if wages are increased without a commensurate GDP to keep things in balance.
As purchasing power increases, prices of goods and services increases. This could have been contained if the local production capacity was at par with wage increment. More money in the hands of workers translates to more buying power in a market that’s dependent on imports which is vulnerable to foreign market forces.
I’ll end my submission by positing that excess money in circulation (recurrent expenditure) without an active manufacturing sector is a prerequisite for inflation.

[quote author=Chimarto post=130338906]For example
current salary =70,000
new minimum wage = 120,000
old minimum wage= 30,000

70,000 X 120,000 ÷30,000 = 280,000[ you are one of the reasons nigeria is moving retrogressively. You live your life on assumption. ]

There is no definite formula for the calculation. That is why you hear of consequential adjustment. One thing is certain, the lower cadre receives higher percentage than the higher cadre. The percentage increase is not a flat one.

[quote author=AmiableMosquito post=130340241]E no rhyme at all. I arrived at 90k+ instead of the 62k or thereabout I started receiving after the consequential adjustment [ don't mind the empty skull boy. They live on assumptions instead of facts.]

Triplerg:
This is misleading

First of, the increase from 30k to 100k is not 70% but 333.33%.

Secondly, the rise in minimum is a rise for those earning above minimum wage but by some percentage which most time fewer than the percentage rise in minimum wage. The % rise decreases with increase in grade level.

Those that will suffer the impact are those working for private firms. They will eventually increase their minimum wage but worker earning above the far above the minimum wage should not expect significant increase and there will certainly be massive layoff

[quote author=DaddyCoool post=130342161]There's no calculation at all. Never mind all the nonsense you've been reading.
The law simply says you can't pay lower than a certain amount. THAT’S ALL!
Any other salary above that is by negotiation - what you're willing to accept and what the employer is willing to pay



Another nonsense [ very big nonsense. You see what i am telling you, they live on assumption. They are one of the reasons nigeria is moving retrogressively.]

phantom:
If the minimum wage increases by 200% , that is from 30,000 to 90000, Just know that those at level 1 step 1 will get that 90000 naira.
I can't remember the formular now but when I calculated mime in 2019, it turned out that those at level 14 to 16 would expect a 15% rise in salary for every doubling of the minimum wage. For example, if im earning 300,000 at level 14 or 15, if minimum wage doubles from 30000 to 60000 for instance, my salary increases by 45,000 naira... those at level 11 to 13 will have maybe a 25% increase.., those at level 8 to 10 may have a 35% increase in their salary.. its only those at level 1 that will get 100% increase.

So in essence, for those at level 14 to 16, once minimum wage goes up from 30000 to 60000, their salary goes up by 15%... if minimum wage triples from 30000 to 90000, then their salary goes up by 30%.

So the percentage by which your salary goes up depends on your level. From 100% at level 1 to 15% at the highest levels.

You are the only person here who has explained this more than all the rest.

Basmec:
First of, the increase from 30k to 100k is not 70% but 333.33%.

Secondly, the rise in minimum is a rise for those earning above minimum wage but by some percentage which most time fewer than the percentage rise in minimum wage. The % rise decreases with increase in grade level.

Those that will suffer the impact are those working for private firms. They will eventually increase their minimum wage but worker earning above the far above the minimum wage should not expect significant increase and there will certainly be massive layoff

Yea, you get it. Most people think is a flat rate for all levels. If minimum wage is applied strictly in the private sector, there will be massive job cuts.

For a corp member
Allawee = 33,000
Minimum wage = 30,000
New minimum wage = 100,000

To calculate New Allawee
% increase 100k-30k/100k = 70%

Then, increase = (0.7×33000) = 23,100

New Allawee = 23,100 + 33,000
= 56,100

Nkpitime:
The poster mathematics is very wrong and increase of minimum wage from 30,000 naira to 100,000 naira is over three times of the actual amount so it over 300%

you're wrong too, it 232,% not 300%, peace!!!

dreamxhaser:
Will there be an increase in the salary of people currently earning above minimum wage? Eg you currently earn 300k and the minimum wage is increased to 100k from 30k (about a 70% increase). Does that mean the person earning 300k will also get a 70% increase to 510k?

From Wikipedia, a minimum wage is the lowest remuneration that employers can legally pay their employees—the price floor below which employees may not sell their labor. Getting a raise is completely different from being paid at least minimum wage.

Basmec:
First of, the increase from 30k to 100k is not 70% but 333.33%.

Secondly, the rise in minimum is a rise for those earning above minimum wage but by some percentage which most time fewer than the percentage rise in minimum wage. The % rise decreases with increase in grade level.

Those that will suffer the impact are those working for private firms. They will eventually increase their minimum wage but worker earning above the far above the minimum wage should not expect significant increase and there will certainly be massive layoff

30,000 to 100,000 isn't what you put up there...

Do the maths its 233%

30:70

%Increase= (Final amount - initial amount) / initial amount

Chimarto:
For example
current salary =70,000
new minimum wage = 120,000
old minimum wage= 30,000

70,000 X 120,000 ÷30,000 = 280,000

This makes no sense!

Chimarto:
For example
current salary =70,000
new minimum wage = 120,000
old minimum wage= 30,000

70,000 X 120,000 ÷30,000 = 280,000

Assuming this is true, then watch me contest for my state's gubernatorial soon. You know how much I will earn?

See the rubbish they're saying below. One of the reasons we are where we are as a nation.
They live on assumptions. What is difficult in keeping mute or go for first hand information.

hafeeanubasy:
That was what A.I told him

I asked A.I the same question. I was just laughing at A.I until A.I now ended with a clause that the employer can decide different method. A.I is truly intelligent!

TheDemola:
More often than not, increment favours those on the lower cadre than the senior cadre

Veey correct

Emmy000seun:
Depending on the calculator you are using to the the maths,😂😜😂😜.. scientific or just Kadio will not give you d same answer..😂🤣🙄., subject to my opinion tho..😂😜😂
.happy Friday

Happy Friday bro

bobbybrown007:
So how are they now calculated? Remember that steps and levels are also added.

There's what they call CONSEQUENTIAL ADJUSTMENT which is manually proposed, argued and agreed upon by the Minimum Wage Committee. This adjustment proposes and decides on what percentage will be increased for staff in each grade level band.

E.g. if minimum wage increases from 30k to 100k as suggested in your question, that is not 70% like you said. Everytime money or anything doubles in value, that is called 100% increment. So, a shift from 30k to 100k is 333.33%. That is the salary increment for the least worker if implemented.

The Committee will agree on the adjustments to make for each category of grade level.

Eg:
1-2 to enjoy the 333.33% increment
3-5 to enjoy 250% increment
6-9 to enjoy 200% increment
10-12 to enjoy 100% increment
13-5 to enjoy 50% increment
Etc etc

Multiply your salary ( if consolidated) or your basic pay (if not consolidated) by the agreed percentage in your grade level and you will know your new salary.

The question is, when will the politicians be placed on minimum wage? That is the strike that NLC should call for. Until the lawmakers earn what you're earning based on their qualifications and experience, MW is total nonsense.

Prices will always rise to swallow whatever increment is made available because those making the laws are not affected.

NASS MEMBERS MUST BE PAID ON MINIMUM WAGE.

agabaI23:
2019 minimum wage was graded. It didn't apply across board.
Those who were earning below 30k were the ones who benefited most.

For instance, corp members moved from 18k to 33k.

Exactly. Thank you

Oga you no get sense.

Nawaaa 4 una oooo
Soo all of una way go strike no fit explain minimum wage calculation ? Tell me how d private sectors go come take explain am to dia workers ? How casual workers go take understand am ? Chai nawaaaa ooooo

The minimum wage increase only affects your basic salary. Note: basic salary is just a fraction of your tatal salary. You can get the basic salary from your pay slip. If the basic salary is 48,000, old mw is 30,000, new mw is 70,000. % increase=((70000-30000)/30000)×100 =133.33%
133.33% of 48,000 = (133.33/100)×48000=63,840
63,840 is now your new basic salary.
So, your new salary will be 63,840 + sum of other components of you former salary.
This was also the template i used when it was moved from 18k to 30k and i received exactly what i got from my calculation.

DaddyCoool:
There's no calculation at all. Never mind all the nonsense you've been reading.
The law simply says you can't pay lower than a certain amount. THAT’S ALL!
Any other salary above that is by negotiation - what you're willing to accept and what the employer is willing to pay



Another nonsense

Exactly.
I don't know where all these calculations are comming from nor the basis for them

23Ju:
The minimum wage increase only affects your basic salary. Note: basic salary is just a fraction of your tatal salary. You can get the basic salary from your pay slip. If the basic salary is 48,000, old mw is 30,000, new mw is 70,000. % increase=((70000-30000)/30000)×100 =133.33%
133.33% of 48,000 = (133.33/100)×48000=63,840
63,840 is now your new basic salary.
So, your new salary will be 63,840 + sum of other components of you former salary.
This was also the template i used when it was moved from 18k to 30k and i received exactly what i got from my calculation.

Minimum wage is by law. Please, on what law are all these calculations based? See my comment above

With this your calculation you are trying to say that someone that was earning 300k will now be earning 1.2million? Just dey play

Chimarto:
For example
current salary =70,000
new minimum wage = 120,000
old minimum wage= 30,000

70,000 X 120,000 ÷30,000 = 280,000

commoditiesnig:
Good question OP.

Civil servant like seunmsg can throw more light

Does he have a job?