₦airaland Forum

Coldrux:
Mumu dey worry una. You guys lack knowledge of Basic economics. A further increase in salaries and wages of govt workers will lead to further inflation which will be highly felt by the non-Govt workers..

Majority of the populace are not govt staff.

That Ajero guy who is diminutive, minute and microscopic is the one pushing for this. He's a very selfish guy. Ayuba wabba is even better

Before minimum wage increment, the inflation rate has been on the increase. So your postulate does hold, as inflation will still rise. Tell your lord to reduce the dollar price, and stop the floating of naira, pay at least 20% subsidy to drag your fuel price down

Lol....I had argued this with a lot of people before and they eventually saw the light. A lot of you are blinded by the propaganda of the successive governments, especially the last one and the current one, telkingvyou peoductivity is the way out of the current economic situation that their poorly thought and cluelessly deployed policies have driven the country.

Thinking inflation is driven by the volume of your production and will automatically improve your exhange rate is not only myopic but says a lot about how misinformed a lot of Nigerians are. I have head the dumb argument several times where people keep harping on production, production, and production as if Nigeria priduces nothing or earns nothing at all compared to what it imports.

For example, a country like Jordan with a GDP of $50. 4bn annualy(2023) imports more than half of its GDP(50.18%) but have a very strong currency agains the USD(1.41 to a USD) and has an inflation rate of 1.54%(Nov. 2024)

Whereas a country like Indonesia(that foolishly allowed for devauation of its currency in the 1990s under an ill advised reforms) had a GDP of $1.371 trillion, imports only 20% of its GDP but has an exhange rate of D16,981 to 1 USD and lobg term average inflation of 25.1%

The high production(as exemplified by GDP) did not help nor improve its exhange rate and inflation rate. In fact, the currency has never recovered since then even with increased prodcution it has been worsening since that poorly advised reforms in the 90s. They are currently contemplating redenominating their currency now to see if that could help desoite churning iut trillions of USD GDP.

Indonesia's mistake? Accepting some blind economic reforms from IMF/World Bank without thinking and that country has never recovered till date despite high productivity.the inflation rate rose to 52% at a time in leading to riots until there was a chnage in government and price control was introduced to bring it down.

For comparison, Nigeria GDP in 2023 was $362.8bn, 28.75% of importation to GDP but inflation rate of 38%(all 2023 figures except inflation rate). Meaning Nigeria imported far less than countries like Jordan,Bulgaria(GDP of $102.2bn amd inflstion of 2%) ,etc, that import more than 50% of their GDP but have strong currencies against the USD. Thisbgoes to say that priducing more like Indonesia and importing more dies or affect the vakue of your currency negatively neither soes ot drermine your inflation rate as a lot have come to tell is rubbish

Please note that increasing productivity will not autimatically reduce your inflation rate neiyhe
will it automatically shore up your currenty valuation eg Indonesia). It is the cost of productive factors such as moentey instruments/monies, labour, etc, that drive inflation and vakuebofbyur currency. There is a reason US/Canada/GB etc nonitor the value of their currencies and ready ti ibtervene if it crosses a certain band. Nobody operates a free floating currency truly.

Nigeria shoukmld have learnt from the Indonesian experience.

GeneralPula:
Floating the naira is the best for naira. It’s even one of the best way to manage inflation. Atm, it’s supply & demand that’s determining the worth of naira. If Nigeria can start exporting more, inflation would get tamed!

And I believe that with time, Nigeria will find it fit into exporting more rather than importing anything & everything..

Originalsly:
Would you then suggest a freeze in minimum wage?...or even a decrease?...which will ... according to your economics view ... keep down or reduce inflation. I do agree smaller employers will find it more difficult to meet the pay level .... but minimum wage cannot remain the same while inflation is running away ...fueled by the drowning Naira. When Trump comes into office and hits the ground rolling ...the dollar will strengthen and we can see the Naira plummeting to 2000/1 by June. Just my view....the only thing I know about economics...is to spell it.

😂😂😂 Is to "spell it"

LordBiden:
The idea of floating the naira should be reversed,its the main reason for inflation.

Floating of naira is not thr problem,not implementing the right policies is the problem.

Labor leaders' reasoning is excellent. Despite the fact that we support the tax and Tinubu rejects this new proposal (when we see another sensible discussion, we will support it), he will understand that Nigerians are not fools. No one who wants Nigeria to progress will ever support the northern backwardness argument for trying to stop the bill, but this one is valid. A lesson here is that when you are doing your combination and permutation, keep in mind that someone else is doing logic and reasoning, "another another" is doing calculus, and "another, another, another" is already calculating variance and standard deviation. Let's wait for FG's reaction. Now, we will know if they care about civil servants. I pray devil doesn't use Tinubu to kill himself this time thinking Labor is uniting with the north. Because if he tries any nonsense, they will know that Nigerians are not fools.

Ola9ja23:
Does that mean if inflation reduces to 15% they will also review our salary and reduce it as well 😀😀😀

You are terrible at economics. So you want a salary reduction when inflation is at 15%. There will be a reduction in salaries when inflation hits a negative. I.e deflation.

I fully support this move by the organized labour. How will a serious government allow inflation at over 30%.

If the government can't peg inflation at less than 10% per annum, let them adjust wages accordingly. Hope you are aware that at the current rate of inflation, what the current minimum wage will by now will require double the minimum wage in about 2.5years

The worst mistake is floating the naira. Even Almighty China did not allow that. The floating of the naira is for three main purposes

1. Make government expenditure cheaper in relation to its foreign exchange earnings.
2. To justify fuel prices fluctuations
3. To contol emigration.
.

Inshort let the labour union begin to compare our minimum wage with that of yhe USA in terms of Dollars.

If the government an be mad enough to keep increasing prices of energy because of prices in those countries, it's high time we started fighting for minimum wages of the countries in its dollar equivalent value in naira.

Why will I buy fuel at the same rate with a person who can comfortably earn the Nigerian minimum wage in 5 to 6 hours

LordBiden:
The idea of floating the naira should be reversed,its the main reason for inflation.

It will worsen our situation. Dual exchange rate will create artificial wealth like under GEJ and Buhari. What will reduce inflation is for Nigeria to make more local production

PresidObi:


It would have been fun to not push for any increases. After the 2023 election, Nigeria needs to suffer very well, next time they see a wicked tribalist with nothing to offer apart from tribal hate and corruption, they will all agree that evil is evil.

And u dey use diz kind sense cross road
Empty skull filled with nothing but sand

Media distortion just to drive traffic.

Ankakh:
As good as this is for workers, this is a recipe for steady inflation rise.

That is what they fail to understand.

Instead of pushing for minimum salary increase (we all know its not wage, furthermore, not all Nigerians even collect monthly salaries), why not push for things that will reduce inflation, that's way better as it will have massive positive effect on those earning salaries and vast majority of Nigerians who are not earning salaries.

PresidObi:


It would have been fun to not push for any increases. After the 2023 election, Nigeria needs to suffer very well, next time they see a wicked tribalist with nothing to offer apart from tribal hate and corruption, they will all agree that evil is evil.

Some will never learn. Even if fuel is 5000 a liter, a bag of rice is 300k, a bag of pure water is 2000 etc, some fools will still defend it and stand stand on his mandate. All the people supporting APC all have the same common features.

Agenda for the year. Ridiculous

fergie001:
SOURCE

What now happens when the inflation is reduced significantly because the government projected to reduce it to around 15% this year?
Will the same organised Labour agreed to also reduce the minimum wage according to the inflation in that regard?

DoA

If inflation goes down nko? Will you tell government to reduce your salary? Sensèleśs people.

You could have negotiated for tax adjustment in every year’s Finance Act that would reflect current and anticipated economic realities.

That’s how it is done in advanced world.

LordBiden:
The idea of floating the naira should be reversed,its the main reason for inflation.

in the other words, We should've been feeling the positive impact by now

PresidObi:


It would have been fun to not push for any increases. After the 2023 election, Nigeria needs to suffer very well, next time they see a wicked tribalist with nothing to offer apart from tribal hate and corruption, they will all agree that evil is evil.

Hahahaha! This one still dey for 2023... Sorry o!

PresidObi:


It would have been fun to not push for any increases. After the 2023 election, Nigeria needs to suffer very well, next time they see a wicked tribalist with nothing to offer apart from tribal hate and corruption, they will all agree that evil is evil.

hmmmm WICKED TRIBALIST[[b]]

Coldrux:
Mumu dey worry una. You guys lack knowledge of Basic economics. A further increase in salaries and wages of govt workers will lead to further inflation which will be highly felt by the non-Govt workers..

Majority of the populace are not govt staff.

That Ajero guy who is diminutive, minute and microscopic is the one pushing for this. He's a very selfish guy. Ayuba wabba is even better

you are the one who is an economic illiterate like others advising your clueless government,

The same NLC that want the Tax bill to be withdrawn, still want a salary increment.

HelipsTech:
Before minimum wage increment, the inflation rate has been on the increase. So your postulate does hold, as inflation will still rise. Tell your lord to reduce the dollar price, and stop the floating of naira, pay at least 20% subsidy to drag your fuel price down

The NLC Is Confused:
You seems to be narrating Other People wrong Views - without your own understanding of how inflation can be tamed or Reduced, nor what Causes Inflation in any Society, especially in Nigeria Context.
•Can you First Define define Inflation ?
•The most Potent ways of Solving Inflation is to have a Productive Economy.
•What is Nigeria Producing?
•What is the Real Sector in Nigeria that is Contributing to our GDP NOW?
NOTHING! e g No Light-For 24/7,as DISCOS are holding Nigeria down- since Most Sectors can't Fund their Production Capacity Nor Can these Companies spend more on Purchasing the Expensive Fuel ⛽ - which the Prices will eventually be passed down to Consumers.
This where the role of Govt- is very critical! But NLC and it's leaders are already in Politics, they can't even Accounts for the Regular Dues, being paid by Members!
-Today,we have ALL turned to become Oil Sector -Contractors and even in the Oil Sector- we are Not Transparent and Accountable!
-You cannot be a Productive Economy,yet you have not solved Food Productions/ Food Security!
•Or how can Countries like USA,Japan, Canada,India of 1.4 Billions People - be Self- Sufficiency in Food Production and is Now Exporting Rice 🌾 to Other Countries - thereby earning Huge FOREX for their Industrial Development!
Are we serious at all?
-Is NLC and it's Leaders Serious at all or they want to play Politics - for the Coming Elections?
What has been the NLC -Positive Contributions to Nigeria Development - other than asking for Wage/ Salaries Increase - Instead of asking govt for PRODUCTIVE Economy,e g they should Stand firm in having Regular Lights 🚨 ,e.g Egypt is having 60,000 -Megawatts of Lights,compared to Nigeria - 4000 or 5,000. So what are we saying here!
Who will be more Productive between Nigeria and Egyptian Economy here?
Nonsensical People are everywhere!

PresidObi:


It would have been fun to not push for any increases. After the 2023 election, Nigeria needs to suffer very well, next time they see a wicked tribalist with nothing to offer apart from tribal hate and corruption, they will all agree that evil is evil.

oga park well.

Mandate1:
labour union in Nigeria are not serious. Fuel price which is the mainstay and determinant of our economy was increased by over 500%, and dey accepted a mere minimum wage of 100% increment. Does this in anyway match up with inflation?

I had long stopped taking them serious.

I have always maintained that Labour shortaged Nigerian workers by accepting paltry 70k as minimum wage. The reality that minimum wage should not be anything less than #200,000 for the lowest earner. When Jonathan fixed minimum wage at #18,000, $1 USD was less than #150 and a worker converting his #18,000 to $ had about $112 Dollars which is approximately plus or minus #200,000 today.

Bluntemperor:
The NLC Is Confused:
You seems to be narrating Other People wrong Views - without your own understanding of how inflation can be tamed or Reduced, nor what Causes Inflation in any Society, especially in Nigeria Context.
•Can you First Define define Inflation ?
•The most Potent ways of Solving Inflation is to have a Productive Economy.
•What is Nigeria Producing?
•What is the Real Sector in Nigeria that is Contributing to our GDP NOW?
NOTHING! e g No Light-For 24/7,as DISCOS are holding Nigeria down- since Most Sectors can't Fund their Production Capacity Nor Can these Companies spend more on Purchasing the Expensive Fuel ⛽ - which the Prices will eventually be passed down to Consumers.
This where the role of Govt- is very critical! But NLC and it's leaders are already in Politics, they can't even Accounts for the Regular Dues, being paid by Members!
-Today,we have ALL turned to become Oil Sector -Contractors and even in the Oil Sector- we are Not Transparent and Accountable!
-You cannot be a Productive Economy,yet you have not solved Food Productions/ Food Security!
•Or how can Countries like USA,Japan, Canada,India of 1.4 Billions People - be Self- Sufficiency in Food Production and is Now Exporting Rice 🌾 to Other Countries - thereby earning Huge FOREX for their Industrial Development!
Are we serious at all?
-Is NLC and it's Leaders Serious at all or they want to play Politics - for the Coming Elections?
What has been the NLC -Positive Contributions to Nigeria Development - other than asking for Wage/ Salaries Increase - Instead of asking govt for PRODUCTIVE Economy,e g they should Stand firm in having Regular Lights 🚨 ,e.g Egypt is having 60,000 -Megawatts of Lights,compared to Nigeria - 4000 or 5,000. So what are we saying here!
Who will be more Productive between Nigeria and Egyptian Economy here?
Nonsensical People are everywhere!

You are not wrong, but every society has its peculiarities.
During OBJ to Jonathan administration, Nigeria export was very low compared. Nigerians however imported almost every consumables, but inflation was moderate. Buhari came with a mandate of 'buy made in Nigeria' as a result closed the borders to encourage local production, that action saw the beginning of hyper-inflation in Nigeria. He manage it by pegging the exchange rate, paying some percentage subsidy on energy (fuel and power). Which Nigerians adapted to the inflation at that time.

Your lord T-pain without any plan, from the minute he took over, everything has been on steady increase, coupled with high tax rate. Floated the exchange rate, outrightly stopping subsidies, non-provision of loans, grants for SMEs to thrive, as he's Buhari who provided many schemes (trader Moni, Anchor borrower, Npower, etc)

T-pain is very wicked

Federal civil servant have not even received this present one and labor is not doing anything about it, but they have started agitating for another one

Bluntemperor:
So, increasing More Salaries is the Solutions to Inflation,abi,as far as NLC is concerned?
Anyway,he de play,as Nigerians,have seen now,that Labour Leaders are clueless!
We de wait their Cruise!

So what exactly is your own proposed solution then? Workers should accept things the way it is when it's obvious the present salary cannot take them home? Do you know I spent 50k on fuelling my car alone? In a month thats 300k on fuel alone, what happens to feeding, taking care of my family, paying house rent etc.
Salary should be increased , when inflation increases, salary increases again and the cycle should continue.
The government cannot be feeding fat while we the workers suffer.

GeneralPula:
Floating the naira is the best for naira. It’s even one of the best way to manage inflation. Atm, it’s supply & demand that’s determining the worth of naira. If Nigeria can start exporting more, inflation would get tamed!

And I believe that with time, Nigeria will find it fit into exporting more rather than importing anything & everything..

It's like putting the cart before the horse , when you know you are unproductive, why don't you get productive and start the exportation first before the floating.
Currency devaluation is good for an export economy not Nigeria, take South Korea and china for example. Now purchasing power is eroded in Nigeria and companies are making losses and closing down due to the hyperinflation in the economy.

Weakened Organized Slaves vs Strong Smart Slave Masters!

Vinnie2000:
It's like Joe Ajaero/NLC wants to be Rugged this 2025.

They are tired of allowing Tinibu play Ping pong with him.

This comment is funny especially when I remember Ajaero's swollen face after he was beaten last year. My bele o

kayperry:
Sometimes when you listen to them speak, even if our present LU is full of dropout dont they consult and ask experts

How can any graduate be proposing incessant minimum wage increase as a messure to catch up with inflation

A serious country's inflation index should not be more than a digit, Nigeria is on 35 trying to catch up with that is like using thunder sound to cover bomb noise ...exactly

what we need are sincere efforts to wind down inflation @top priority, ensure naira stability and value ... Nigerians can enjoy a 20k minimum wage even beta naa currency value be koko

I prefer the days 30k can buy a bag of rice and workers still have enough to go to work than a 150k minimum wage at these time

You have made an excellent point which is only applicable in theory but not practical. Do you think a bag of rice will ever come down to 30k again , or petrol reduce to 500/litre ever again? That's the main problem here which you and I know the prices will never get reduced again .
Now if we all admit that the prices of basic items will never go back to the way it was, then why will you expect the workers wages to remain the same, take for instance I fuel my car 50k weekly to work now and that's 300k monthly on fuel alone but my salary remains what it was in january.
If my fuelling cost and other things have increased and there's no hope of it reducing again, why will you expect my salary not to increase to match the attendant inflation that has ruined my salary?
Mind you,the government herself pegged the 2025 budget at an exchange rate 1500 to a dollar so don't expect the price of anything to reduce from what it is now cos it can only go up further.