₦airaland Forum

https://ooduarere.com/wp-content/uploads/2016/05/pms-333x330.jpg

See minimum wage in Top 10 Oil Producing Countries (Compare and contrast by population and get the average of top 10 countries using the data above)
Why minimum wage in Nigeria is the lowest is because of the Population. Let try to proof that!

Nigeria has Population of more than 170 million.
The highest minimum wage in which Venezuala has 30 Million people.

Lets assume we are using 170 Million in Nigeria which is more than that.

170m/30m = 5.6m Meaning Nigeria is 5.6 times more than Vene in population.

Therefore, Venezuela should be getting 18,000x 5.6= 100,800 Here Nigeria is making more than Venezuela in Minimum wage in comparison to the population.

Price Per litter: Venezuela is surely more preferable to Nigeria in Price per L
Lets proof that.
Comparing Nigeria's Population to venezuela price per L.
170m = 30m
xN = 3.61N
20N

Nigeria should be paying 20 Naira per L in correlation with Venezeula.
Conclusion, no matter how you try to calculate it, Nigeria should be paying less for PMS. At least at 20N per L in comparison to venezuela .



Lets do Kuwait.
Population in Kuwait - 3.369M
population in Nigeria - 170M

170m/3.369 m=50m Here Kuwait should be getting 50x18,000 as minimum wage= 900,000 ( But Kuwait is getting 161,461Naira) Again Nigeria is better paid than Kuwait when you compare the population to minimum wage in Nigeria.

Now lets calculate the pms Price.
Comparing Population of Nigeria to Kuwait price per L.
170m=3.369M
xN = 34.54N
N1742 per L
Nigeria should be paying N1742 per L when you compare it to Kuwait. (O boy)Nigeria is better here oh.

Nigeria is 50 times more than Kuwait in Population
Calculate the rest and get the average of top countries. This should be what Nigeria should be paying per L
if it's less than 141 then 141 is not bad. The way I am looking at it, it will be more than 141 cos the average of the two we have calculated is 1742+20/2= 881Naira per Litre.




WHat is your Final answer ?

why are you comparing population to minimum wage? does it mean that countries with large populations have a low standard of living?

the thing sha is that we should stop depending on oil. shikena!

DrLee:
why are you comparing population to minimum wage? does it mean that countries with large populations have a low standard of living?

Yes, in most cases like China and India. Average standard of living are lowest due to huge population. China is trying to fill in the gap but still huge.

Base on the data above, you have no other means to get the real value. Using the data above because some people are sharing this photo. You need to proof them right or wrong.

They get carried away by the figures but too lazy to really calculate the average based on the data above and population. You can even try Barrel perhead which is almost the same thing. You will still find out that Nigeria has more Population.

If you have any other data, you can share it in comparison to Nigeria.

Please include number of (working) refineries in the table.

It's okay...... Kontiniu!

God punish devil wey de operate our leaders brain. I think they be infect some of the youths like this OP. using the population to decide the minimum wage in comparism with other country is wrong.

[size=28pt]Yes

#Nationalize-Every-Oil-Well

Let the Movement Begin!![/size]

Lets do Saudi Arabia.
Population in Saudi Arabia.- 28.83M
population in Nigeria - 170M


170m/28.83= Again Nigeria is 5.897 times more than Saudi

For this reason Saudi should be making 18,000x 5.897= 106,146 Naira Here Nigeria is making slightly more than Saudi Arabia in Minimum wage in comparison to the population.

Comparing Nigeria's Population to Saudi Arabia price per L.
170m = 28.83m
xN = 25.12N
148N

Very close again. Nigeria should be paying 148 Naira per L in comparison to Saudi arabia's Population pms price per L




Lets Do Iran
Population in Iran.- 77.45M
population in Nigeria - 170M


170m/77.45m = Nigeria is 2.195 times more than Iran

Iran should be making 2.195 x18,000 minimum wage= 39,509N ( Iran is better off Nigeria here by far in minimum wage despite Nigeria's population more than Iran)

Lets do the price per L

170m=77.45m
xN= 102.05N
224N

Nigeria should be paying 224 Naira per L.

So far average of 4 countries

20+1742+148+224/4= N533.5

Na wah o! this is outrageous!!!

op, how old are you?

Have you ever heard of average production rate for oil producing countries? Nigeria produces average of 2 million barrels /day. Your assignment is to find out what others produce daily, when you are true, you will feel fooolish with your calculations.

What you have done is like Mr A's wife assuming Mr A should be earning the same salary with Mr B, since both Mr A & Mr B work in the same company.

[quote author=scully95 post=45656912]https://ooduarere.com/wp-content/uploads/2016/05/pms-333x330.jpg

Qatar Vs Nigeria

170m/2.169 million = 78.4m Meaning Nigeria is 78.4 times more than Qatar. Chai!

Therefore, Qatar should be getting 18,000x 78.4= 1,411,200 Minimum wage but it is getting 101,250 Nigeria is far better than Qatar in Minimum wage in comparison to the population.

Price Per litter:

170m = 2.169m
xN = 34.54N
2707.N

Mogbe Nigeria should be paying 2,707.Naira per L in when you compare the population size to Qatar



Lets do UAE.
Population in UAE- 9.346M
population in Nigeria - 170M

170m/9.346=18.189m Here UAE should be getting 18.189x18,000 as minimum wage= 327,412 ( But UAE is getting 217,362) Again Nigeria is better paid than UAE when you compare the population to minimum wage in Nigeria.

Now lets calculate the pms Price.
Comparing Population of Nigeria to UAE price per L.
170m=9.346M
xN = 78.18N
N1742 per L
Nigeria should be paying N1422.per L when you compare it to UAE. (O boy)Nigeria is better here oh.




Lets do Algeria
Population in Algeria- 39.21M
population in Nigeria - 170M

170m/39.21=4.34m Here Algeria should be getting 4.34x18,000 as minimum wage= 78,041 ( But Algeria is getting 55,957) Again Nigeria is better paid than Algeria when you compare the population to minimum wage in Nigeria.

Now lets calculate the pms Price.
Comparing Population of Nigeria to Algeria price per L.
170m=39.21M
xN = 63.558N
N1742 per L
Nigeria should be paying N275.53 per L when you compare it to Algeria . Nigeria is better here oh.


Libya

Population in Libya- 6.202M
population in Nigeria - 170M

170m/6.202=27.4m Here Libya should be getting 27.4x18,000 as minimum wage= 493,389 ( But Libya is getting 23,818) Again Nigeria is better paid than Libya when you compare the population to minimum wage in Nigeria.

Now lets calculate the pms Price.
Comparing Population of Nigeria to Libya price per L.
170m=6.202M
xN = 26.69N
N1742 per L
Nigeria should be paying N731 per L when you compare it to Libya. Nigeria is better here oh




Iraq

Population in Iraq- 33.42 M
population in Nigeria - 170M

170m/33.42m=5.1 Here Libya should be getting 5.1x18,000 as minimum wage= 91,561( But Iraq is getting 25,813) Again Nigeria is better paid than Libya when you compare the population to minimum wage in Nigeria or standard of living.

Now lets calculate the pms Price.
Comparing Population of Nigeria to Iraq price per L.
170m=33.42M
xN = 59.66N
N303.48 per L
Nigeria should be paying [N303.48 [/b] per L when you compare it to Libya. Nigeria is better here oh

Nigeria 141

Total average

20+1742+148+224+1422+2,707+275.53+731+303+141

Average= 771Naira

We should be paying 771 Naira per L.

Conclusion, those sharing this Photo should stop sharing it please, it does not make any sense if you don't know the total number of oil output these countries are making per head in comparison to Nigeria and also know the number of Refinaries or GNP. (If they are able to produce and meet up with their local demands or not)

I think Saudi arabia has the highest number of output. Plus other factors such as GDP/GNP matters a lot even though most of the countries get most of their GDP from Oil. Like Saudi Arabia for example.


Note again that Nigeria has more population than all of the Opec countries, 2million B per day is nothing. We need to diversify the economy to IT, Steel (aja okuta), Agriculture and Massive local production at all levels, starting from major needs such as food and clothing. Before Nigeria can fully arrive. Subsidy is not a good idea, it should be removed because of neighboring countries who do not have Oil.


Here 85 people need to share one barrel in terms of GDP or Oil production per day which is 90% of our GDP and we are heavily dependant on foreign goods. For the situation to move forward, we need to produce more internally, meet up with our local demands, look for local substitute for foreign goods. More local refineries (At least 30) will make the price of oil drop drastically.

I rest my case.

Do they also import as we do?

All we need is diversification. Minimum wage increment will put pensioners, non-salary earners and students vulnerable. Because there will be hyper inflation.

HMMMM

scully95:
https://ooduarere.com/wp-content/uploads/2016/05/pms-333x330.jpg

See minimum wage in Top 10 Oil Producing Countries (Compare and contrast by population and get the average of top 10 countries using the data above)
Why minimum wage in Nigeria is the lowest is because of the Population. Let try to proof that!

Nigeria has Population of more than 170 million.
The highest minimum wage in which Venezuala has 30 Million people.

Lets assume we are using 170 Million in Nigeria which is more than that.

170m/30m = 5.6m Meaning Nigeria is 5.6 times more than Vene in population.

Therefore, Venezuela should be getting 18,000x 5.6= 100,800 Here Nigeria is making more than Venezuela in Minimum wage in comparison to the population.

Price Per litter: Venezuela is surely more preferable to Nigeria in Price per L
Lets proof that.
Comparing Nigeria's Population to venezuela price per L.
170m = 30m
xN = 3.61N
20N

Nigeria should be paying 20 Naira per L in correlation with Venezeula.
Conclusion, no matter how you try to calculate it, Nigeria should be paying less for PMS. At least at 20N per L in comparison to venezuela .



Lets do Kuwait.
Population in Kuwait - 3.369M
population in Nigeria - 170M

170m/3.369 m=50m Here Kuwait should be getting 50x18,000 as minimum wage= 900,000 ( But Kuwait is getting 161,461Naira) Again Nigeria is better paid than Kuwait when you compare the population to minimum wage in Nigeria.

Now lets calculate the pms Price.
Comparing Population of Nigeria to Kuwait price per L.
170m=3.369M
xN = 34.54N
N1742 per L
Nigeria should be paying N1742 per L when you compare it to Kuwait. (O boy)Nigeria is better here oh.

Nigeria is 50 times more than Kuwait in Population
Calculate the rest and get the average of top countries. This should be what Nigeria should be paying per L
if it's less than 141 then 141 is not bad. The way I am looking at it, it will be more than 141 cos the average of the two we have calculated is 1742+20/2= 881Naira per Litre.




WHat is your Final answer ?

What is this? Your calculation is faulty, how many ppl are in the Govt's employ? Is there any social welfare scheme to cater for the vast majority of unemployed citizens?

Your calculations would be right of only the Nigerian govt was spreading her resources thin to cater for the entire population.

Please stop with your calculations, it makes one look stupid.

Op your argument is baseless. You need to establish the direct correlation between the total population of a country and the price per liter of pms before you can proceed with this your analogy. So far you have failed to do this.

In addition there is no direct relationship between standard of living and the number of people living in a country. If that was the case then countries like Haiti would have a better standard of living than the United States or the United Kingdom.

Please revisit your arguments before you deceive gullible Nigerians

The truth is this the taxing system in Nigeria need to be checked..

South Africa with a GDP of 350bn has a revenue of over 70bn
And we with a revenue of 550bn can't generate 30bn??
Something is wrong and that's were I want Buhari to focus more on this fight against corruption

If we have a 20 trillion naira budget as we are supposed to, then we won't have much issues,
If am a president that's what I will do

[quote author=scully95 post=45658871][/quote]who the calculation don epp? Or will that stop us frm protesting

k

Please don't make racist and tribalistic comments on this thread

Nigeria is a failed country