₦airaland Forum

Success1930:
How to calculate the new minimum wage

E.g If you're receiving N60k

To calculate the new salary based on the new minimum wage increase:

1. Find the percentage increase in the minimum wage:
(New minimum wage - Old minimum wage) / Old minimum wage = (N70,000 - N30,000) / N30,000 = 133.33% (or 1.3333 as a decimal)

2. Apply the percentage increase to your current salary:
Current salary x Percentage increase = N60,000 x 1.3333 = N80,000

Since your current salary (N60,000) is higher than the old minimum wage (N30,000), your new salary will be higher than the new minimum wage (N70,000). Therefore, your new salary would be N80,000.

However, if your current salary was below the old minimum wage, your new salary would be the new minimum wage (N70,000).

Success1930:
Smile.... As a Mathematician....God no go shame us

Success1930:
How to calculate the new minimum wage

E.g If you're receiving N60k

To calculate the new salary based on the new minimum wage increase:

1. Find the percentage increase in the minimum wage:
(New minimum wage - Old minimum wage) / Old minimum wage = (N70,000 - N30,000) / N30,000 = 133.33% (or 1.3333 as a decimal)

2. Apply the percentage increase to your current salary:
Current salary x Percentage increase = N60,000 x 1.3333 = N80,000

Since your current salary (N60,000) is higher than the old minimum wage (N30,000), your new salary will be higher than the new minimum wage (N70,000). Therefore, your new salary would be N80,000.

However, if your current salary was below the old minimum wage, your new salary would be the new minimum wage (N70,000).

Success1930:
Smile.... As a Mathematician...In the real sense,
this is how it supposed to be calculated...But, it will be calculated according to levels , grades and current salary.

We will see the adjustment soon. It will favour those workers receiving small salary more. God no go shame us

Skye123:
So, does anyone have any idea when the new minimum wage will take effect??

Nadingo:
Hah!! My sincere apologies to all those who predicted less than N100k, whom I called names on this thread. I recall someone predicted N70k in here, and I called him 'a slave in love with his chains.' Abeg no vex sir/ma. Tinubu and APC have humbled me. My sincere apologies to all who may have been offended by my earlier utterances regarding this MW matter. Forgive me.

Nadingo:
Consequential adjustment would determing the percentage increase each salary scale and it's corresponding GL would get. Like me, I'm on Contediss GL11, I know sey my increase no go pass 35% if e even reach. Last MW increase, it was as low as 16% for GL10 upwards on some salary scales. May God help us in this tinubuconomy. MW increase benefits those on lower cadre more than those high up.

DrManHattan1:
Please i have 2 questions to ask about this minimum wage saga.. 1. Please are they paying the minimum wage for this month salary or its starting next month?
2. Are NYSC members included already in the minimum wage?

experts in the room should assist pls

DrManHattan1:
Please i have 2 questions to ask about this minimum wage saga.. 1. Please are they paying the minimum wage for this month salary or its starting next month?
2. Are NYSC members included already in the minimum wage?

experts in the room should assist pls

bowen2018:
after NA do their own side of the job and Mr president signs it. Only corps members in service during this period will benefit.. Let's assume by September or latest October

kkkp:
From Level 8 should not expect much. it may be just within 20 to 40% increment unlike minimum wage which is about 130% increment.

ITF

Push your buttons…. I just saw someone APL dated 18 July 2024
GL 07/02
N2,555,000 per annum

bowen2018:
Yes, bound on everybody

Hinokami:
Thanks

What I wanted to ask is would it also affect all levels of earners in private sector ie those with 200k upwards monthly etc?

Brightlight123:
FAAN is issuing Apls....

Brightlight123:
FAAN is issuing Apls....

Success1930:
You are 100% correct..I just called to confirm. Pls do you have the FAAN MD's no

No1socialpr:
Please sir , are you sure about this ? And how much is the pay for level 8 sir ? …thanks .

Brightlight123:
No I don't

bowen2018:
all, but may not be as much as junior level officials

kkkp:
ATBU C.V collection ongoing...