₦airaland Forum

trafficpools:
your mathematics is poor, an increase from 30k to 100k is around 230% not 70% you can see the gap difference right?

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

dreamxhaser:
Hello Guys!

I have been seeing a series of arguments regarding this minimum wage of a thing and I hope to get an insight from experts on something confusing me.

Will there be an increase in the salary of people currently earning above minimum wage?
The percentage increment is more than 300% and not 70% as you written.

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?

NeckingNgulping:
No, it doesn't work that way. The minimum wage is the lowest amount projected for the government and the private sector to pay an employee. If you're earning 300k, you're far above the minimum wage in Nigeria. The increment will not affect you.

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

McLizbae:
Even this one is a very poor mathematics. That's 300%+

UNNGRADUATEEE:
corpers would now be paid #70k..chai, I shouldn't have served and waited for this opportunity!

DataDoc:
If he's earning 300k and the new minimum wage becomes 300k, is he going to earn same amount with the company gateman, for instance?

trafficpools:
go back and learn arithmetic again oga! 30k to 100k increase percentage is 233(233%). Ask your teacher!!!

NeckingNgulping:
Lol, you have missed it.

dreamxhaser:
Hello Guys!

I have been seeing a series of arguments regarding this minimum wage of a thing and I hope to get an insight from experts on something confusing me.

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?

DataDoc:
If he's earning 300k and the new minimum wage becomes 300k, is he going to earn same amount with the company gateman, for instance?

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.

dreamxhaser:
Hello Guys!

I have been seeing a series of arguments regarding this minimum wage of a thing and I hope to get an insight from experts on something confusing me.

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?

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

Harddiskng:
Loool what nonsense are you calculating.

Minimum wage is simply the lowest amount an employer must pay for labour.

If you are already earning more than minimum wage no employer is under any obligation to increase your salary.

Salary are negotiations between you and your employer, the fact minimum wage increase doesn’t mean your employer has to increase your salary.

UNNGRADUATEEE:
I have been making calls to know how I can serve again. What if I go back to the school and ask them to mobilize me , lying that I haven't served before?

NeckingNgulping:
Don't try that. It may not end well..

UNNGRADUATEEE:
how?

millstone:
One could even argue that yahoo boys are the cause of inflation. I remember 2017/18 when a friend of mine wanted to buy a local sandals that was sold 3-5k months before, we moved round town and could not find one for nothing less than 15k because all the marketers were putting yahoo boys price. Now it goes thesame way for house rent, cars and other things perceived as luxury. The economy is messy but the major problem for most of our mess is not minimum wage but the lavish lifestyle of nigerian yahoo boys and politicians who have made every business men increase the cost of everything

NeckingNgulping:
According to the law, it's an offense to serve twice or more. If you're found guilty, you're going to jail.

dreamxhaser:
Hello Guys!

I have been seeing a series of arguments regarding this minimum wage of a thing and I hope to get an insight from experts on something confusing me.

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?

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