₦airaland Forum

SonofElElyonRet:
This place don turn comedy central

SonofElElyonRet:
@KarlTom how you take enter nsempa? Who recommend you ?

Joyful365:
There's no uniform and centrally accessible, publicly available data on number of people in federal government payroll but it could be anywhere from 1.6 million people to 1.8 million people or more.

Let's guess it's average of 1.7 million people.

If you divide 6.5 trillion equally between 1.7 million you'll get 3.8 million annually or 318k monthly. Remove tax of 17% and you get 264k monthly on average which is a reasonable wage bill to run a truly efficient and quality service oriented bureaucracy in Nigeria of 2025 where inflation is over 30% but NBS keeps lying that inflation is 22%.

Joyful365:
Minimum wage bill of 2023 for fg was around 4 trillion while subsidy payment (fuel and electricity) was around 7.26 trillion.

A serious government that wants to implement austerity measures without wiping out the middle class would have implemented a better version of Oronsaye report (trim and merge MDAs) which could have saved at least 500 billion annually.

As he gleefully shouted subsidy is gone, he would have also proclaimed 50% reduction in salaries and allowances of all elected and politically appointed federal government officials which would have saved another 300 billion.

After all this, minimum wage can then be increased to 150k for only grade level 1-6 and 30% increase for grade level 7-10. Every other grade stays the same cos they're already earning well and less impacted by the subsidy removal. These would have raised the wage bill to around 6.5 trillion.

Total savings from subsidy removal and austerity reforms = 7.26 trillion + 500 billion + 300 billion = 8.06 trillion

New wage bill = 6.5 trillion.

8.06 trillion - 6.5 trillion = 1.56 trillion net savings savings from year 2 of government after fully implementing subsidy removal and trimming down bloated government.

With these measures, you'll have less complain in the society cos there's been a form of wealth redistribution while government hands of paying fuel subsidy to corrupt racketeers.

At the same time, every revenue and expenditure must now be accounted for and there's full transparency and zero tolerance for corruption (executive, legislative and judiciary), while citizens are fully empowered by the law to scrutinize what every government official is doing without victimisation subject to you providing evidence and proving your claims. No more using courts and corrupt judges to stifle Investigations. Set measurable targets and measure performance regularly.

Put me there as president and you'll see real change in 2 years, not this balablu bulaba whatever that some people are celebrating here as if governance is rocket science.

If you have worked or ran a serious business where you set targets, track progress, measure performance and evaluate everything every week and every month, you'll know that Nigeria government is a joke and all they are doing is zero - just flexing power and stealing public funds to show off and oppress citizens

mikeapollo:
What I mean is that it is wrong to float and devalue the currency by 200% in an import-dependent economy if the objective is to accrue more revenue.
The better option is to limit or reduce the import of non-essential items, so we can reduce the pressure on the exchange rate, as close the trade gap rather than just devalue the currency anyhow just because you want more revenue in local currency.

Itzlinda:
You are right my brother, very right. The problem is corruption is norm in Nigeria. I have worked in two government agencies and I can confidently tell you everyone is corrupt in Nigeria. From the CEO of the organisation receiving kick back to the contractor and government supervisors conniving to cut corners and receive their part. I have only met few public servants that are upright, they also do the chopping but atleast they are not greedy and have people at heart. That's why I just gave up on this country.

Despite the hard stance of Buhari against corrupt people, corruption still went on unabated under him.

Tinubu is not even pretending to fight corruption..

KarlTom:
Na only heaven know o

Dupeodus:
The primary objective of devaluation or correct pricing of your currency is not to accrue more revenue. It appears so because in Nigeria's case, government is the major exporter by a very wide margin which in itself is a consequence of decades of incorrect pricing of the naira that effectively killed all other productive sectors and made Nigeria an import dependent country like you said, relying on export earnings from oil to fund the imports. The primary objective of devaluation or correct pricing of the currency, like I prefer to phrase it, is to give your own local producers a chance to compete in the international market either for export or stand their grounds against imports in the local market. As we speak, it is steal cheaper to import basic food items into Nigeria compared to locally produced ones unless you take extra ordinary measures like high import duties or outright bans. We have done that for decades and we know they don't work. The common man still pays economic price but you end up with government created billionaires at the expense of your local production. This is an indication that the naira is still not correctly priced. One can argue that as long as we can fund the imports with dollar earnings from oil and related energy products which are indeed part of our production, then the naira should reflect that. That is true as long as we are willing to live with the vagaries that comes with being a mono product economy. I always say that we should learn from how Norway managed this situation.

mails4funshi:
Another way to look at it is, only 0.85% of Nigerians will gulp that much (Using 200M population Est).

Joyful365:
So because 0.85% will gulp that amount, the entire 70 million workforce should accept 10k or poor salary? This is a very negative mindset of if I cannot enjoy it then nobody should enjoy it.

If the government sets a benchmark of 150k that is reflective of the cost of living then the private sector will take a cue which would help redistribute wealth and drive aggregate demand which is good for business and the economy.

Are you happy seeing people hungry and unable to meet up with monthly expenses despite working 6 days a week, 26 days a month?

Do you know what is responsible for the low per capita income of the country? Poor wages of majority of the people.

A security guard can earn minimum wage, work 8 hours a day for 30 days and be able to earn enough to pay all his bills, save and invest.

A security guard in Nigeria will 12 hours every day for 30 days and his salary can only cover food and transportation. He will owe landlord rent and borrow from friends to transport to work. Zero savings. Zero investment. Zero future. All from a bad government policy. Why do you think those kind of people will not be motivated to go into kidnapping and armed robbery?

Change your mindset. Give what belongs to Caesar to Ceaser.

If 0.85% of the population needs to earn well for 70% of the country's population to earn well then it's better cos in the end, na they can invest their savings into NGX and make everyone more wealthy.

Streetinvestor2:
.I will never support our sacrifice should be for 1% of the population. How the government can take care of them should be worked out from what they generate. I am on my own hustling and will protest to that idea.
Our sacrifice should be put in places every one will have equal opportunity to benefit. I will not sacrifice for that 1 percent..
I have said it severally the nigeria civil servants are the most lazy and unproductive sub set.
The just do nothing and wait to collect salary for doing nothing mostly the ones in all those ministries..
The notion that once any government is taking care of civil servants. It receives pass mark can never work with me .Infact I will never join to fight for anything that has to do with warfare of civil servants..I will only get involved in what that benefit larger population of Nigerians.
If u are thr and the salary is not enough. Just resign and go do something else
My problem with is government is the macro economy not working if na civil servants I no send them...not pretending

Streetinvestor2:
How come no bank H1 audited results don show.
What is cbn doing or what is happening
Not when I sell now results go come show.

Bizibi:
corruption is not a crime in Nigeria anymore,it is now a culture...... when it gets to that level it becomes normal even the upright will partake in it.

Joyful365:
Whether you like it or not, the government must exist to take care of the people. The doctors provide health services. The teachers provide education services. The police provide security services. Everyone who works in government provides a service or public good.

.

Agbalowomeri:
You people are eager this year. Audited H1 comes out mid September on a norm

Streetinvestor2:
oga I use to collect interim dividend in September from banks
I wan qualify for my dividend and sell to rebalance my portfolio outside bank stocks

Agbalowomeri:
Interim dividends are paid in October, but qualifications in September so it still works for you

zendi:
NEW EDITION


Megawealth01= the game is the game.

Nosa2= investing is not a team sport.

KarlTom= every malam to his kettle.

Zendi= monkey hunting no be crime, only bad habit.


The shaping of nsempa thought and culture.

Itzlinda:
Yes. Corruption is norm here. Funny thing is the people that are being celebrated are those that knows how to game the system and steal from government coffers

damtan:
Alot of sensible debates going on here.
Please, I'm a newbie in stock investment and needs recommendations

I need at least 5-10 good long term stocks to buy.

Lofty1000:
Guys hope you didn't sleep on this
https://doclib.ngxgroup.com/Financial_NewsDocs/44900_LEGEND_INTERNET_PLC-_YEAR_END_-_FINANCIAL_STATEMENT_FOR_2025_FINANCIAL_STATEMENTS_AUGUST_2025.pdf


Easy 100% starting from tomorrow

The news came out unexpectedly

KarlTom:
I don't think so...
Infact it shed 10% today

Joyful365:
Minimum wage bill of 2023 for fg was around 4 trillion while subsidy payment (fuel and electricity) was around 7.26 trillion.

A serious government that wants to implement austerity measures without wiping out the middle class would have implemented a better version of Oronsaye report (trim and merge MDAs) which could have saved at least 500 billion annually.

As he gleefully shouted subsidy is gone, he would have also proclaimed 50% reduction in salaries and allowances of all elected and politically appointed federal government officials which would have saved another 300 billion.

After all this, minimum wage can then be increased to 150k for only grade level 1-6 and 30% increase for grade level 7-10. Every other grade stays the same cos they're already earning well and less impacted by the subsidy removal. These would have raised the wage bill to around 6.5 trillion.

Total savings from subsidy removal and austerity reforms = 7.26 trillion + 500 billion + 300 billion = 8.06 trillion

New wage bill = 6.5 trillion.

8.06 trillion - 6.5 trillion = 1.56 trillion net savings savings from year 2 of government after fully implementing subsidy removal and trimming down bloated government.

With these measures, you'll have less complain in the society cos there's been a form of wealth redistribution while government hands of paying fuel subsidy to corrupt racketeers.

At the same time, every revenue and expenditure must now be accounted for and there's full transparency and zero tolerance for corruption (executive, legislative and judiciary), while citizens are fully empowered by the law to scrutinize what every government official is doing without victimisation subject to you providing evidence and proving your claims. No more using courts and corrupt judges to stifle Investigations. Set measurable targets and measure performance regularly.

Put me there as president and you'll see real change in 2 years, not this balablu bulaba whatever that some people are celebrating here as if governance is rocket science.

If you have worked or ran a serious business where you set targets, track progress, measure performance and evaluate everything every week and every month, you'll know that Nigeria government is a joke and all they are doing is zero - just flexing power and stealing public funds to show off and oppress citizens