₦airaland Forum

RepoMan007:
You tried but still fall short.
Minimum wage is roughly tied to GDP. What is our per capita GDP?

For someone to output less than N300k from january to december then expect the govt to perform magic by paying people above N1m per annum is accident in advance.

EasternActivist:
Oga please shut up and ask yourself this question.
How are other past government doing it...

RepoMan007:
You tried but still fall short.
Minimum wage is roughly tied to GDP. What is our per capita GDP?

For someone to output less than N300k from january to december then expect the govt to perform magic by paying people above N1m per annum is accident in advance.

zuchyblink:
Comparative Analysis of Petrol Costs Relative to Minimum Wage in the US and Nigeria

When evaluating the cost of living in different countries, it is crucial to consider the price of essential commodities like petrol in relation to the minimum wage. By comparing the percentage of the cost of petrol within the minimum wage, we can gain insights into how much of an individual's earnings are spent on fuel. Here, we will examine this relationship in the United States and Nigeria.

United States:

- Cost of petrol per liter: $0.99
- Minimum wage: $1257

To calculate the percentage of the cost of petrol in the minimum wage, we use the formula:

Percentage = (Cost of Petrol per Liter / Minimum Wage) × 100

For the US:

Percentage in the US = (0.99 / 1257) × 100 ≈ 0.079%

This calculation indicates that in the United States, approximately 0.079% of the minimum wage is spent on purchasing one liter of petrol.

Nigeria:

- Cost of petrol per liter: $0.45
- Minimum wage: $19.41

For Nigeria:

Percentage in Nigeria = (0.45 / 19.41) × 100 ≈ 2.32%

In Nigeria, about 2.32% of the minimum wage is required to buy one liter of petrol.



From the above calculations, it is evident that people in Nigeria spend a significantly larger portion of their minimum wage on petrol compared to individuals in the United States. Specifically, the percentage of the cost of petrol in the minimum wage is approximately 2.32% in Nigeria, while it is only about 0.079% in the US. This stark difference underscores the heavier financial burden that fuel costs impose on Nigerian workers relative to their American counterparts. Understanding these disparities can help inform policies aimed at improving living standards and economic conditions in Nigeria.

Ojuntana:
What principle says minimum wage is tied to GDP

RepoMan007:
even a fool with few brain cells knows govt resorted to printing money and borrowing to "do it".

Wallow in your ignorance.

EasternActivist:
You're the one wallowing in ignorance

Some past government that didn't print money, how do they manage to reduce this fuel rate to minimum wage ratio?

Argue with your conscience....

RepoMan007:
less mouths to feed. More petrodollar available. Less loan repayment to eat what comes in.

Today that's not the case. Income of govt is 90% booked already because debt that has been wasted must be paid.

RepoMan007:
it is from GDP that govt extract taxes and taxes in the hands of govt determines what they can afford. In out case we were using oil to substitute taxes. That meant everyone could afford to be unproductive and still get paid. This is why refinery isnt working. Staff get paid irrespective of production.

Unfortunately, we have huge loans to repay and oil money has been largely booked for that. The way out seem to be taxes but taxes is dependent on productivity level of the economy.

A system where there is no security, incentives, power, or supporting amenities for productive workforce is the result of years of eating oil money directly.

If you tax the people too much, small business will collapse and people will revolt as we saw in kenya. I did a topic that this past week. Check it out.

Ojuntana:
Are you implying that Nigerians don't pay taxes?
What is our debt to GDP ratio? I believe we're still far below the threshold.
Again, you have now explained what principle says minimum wage is tied to GDP

EasternActivist:
This is an example of show me a failed government and a failed country without specifying it

Civil servants are public servants that delivers government plans, initiatives, goals and services to the citizens, they are the bedrock. Without them governance won't be felt by the citizens. They ought to be paid and reasonably so to compare to other nations, if the government can't do that let them pack up instead of objecting them to inhumanity and poverty.

RepoMan007:
less than 50% do but that's enough.

RepoMan007:
They deliver at less than 20% of their capacity. That's why farmers are at the mercy of bandits when we have police guarding big men in cities. If farmers produce more, sell more and pay more taxes, that will better help govt pay workers but the workers aren't contributing where their efforts are needed most times.

Ojuntana:
Hmmm. What's the source of your statistics
You still have not explained what principle says GDP is tied to minimum wage.
Why I ask is because if it is so, then our leaders have been robbing us for long. Nigeria's economy was largest in terms of GDP for years and our minimum wage was not highest on the continent

RepoMan007:
it is from GDP that govt extract taxes and taxes in the hands of govt determines what they can afford. In out case we were using oil to substitute taxes. That meant everyone could afford to be unproductive and still get paid. This is why refinery isnt working. Staff get paid irrespective of production.

Unfortunately, we have huge loans to repay and oil money has been largely booked for that. The way out seem to be taxes but taxes is dependent on productivity level of the economy.

A system where there is no security, incentives, power, or supporting amenities for productive workforce is the result of years of eating oil money directly.

If you tax the people too much, small business will collapse and people will revolt as we saw in kenya. I did a topic that this past week. Check it out.

Ojuntana:
This is just for vat
VAT is just a component of tax

RepoMan007:
You just love senseless back and forth.

Go and find proper job. Govt doesn't owe you living wage. Nigeria is a jamboree.

Ojuntana:
You seem suddenly angry at my exposure of your shocking lack of intellectual rigour.
But should it be so? Shouldn't you be humble and recoil to brush up on your cognitive skills?
Are you now a mediator between govt and I to decide if govt owes me anything or not? How did you arrive at the fact that I don't have a "proper job"?
Be guided young man.

RepoMan007:
intellectual rigour??

Mental. Fly to USA with witchcraft.

Ojuntana:
Be calming down ok.
Whenever the heat feels too much, get out of the kitchen

RepoMan007:
you points are cold n dull. No heat. You need proper food for thought and not to be in the kitchen serving cold dishes.

Ojuntana:
But you couldn't handle them could you? Which led to your previous unprovoked outburst.
If cold dishes hurt your fragile ego so much, how will you survive the heat when it comes?

zuchyblink:
In 2005, when the minimum wage was , 7500 naira and the fuel price was 50 naira per litre, the minimum wage could buy 150 litres of fuel. Today, the minimum wage is 30,000 naira, which can only buy 42 litres. This statistically explains why the average Nigerian is currently struggling; it is not primarily due to the machinations of village witches.

RepoMan007:
stop talking deranged.

Ojuntana:
Be calming down ok?