₦airaland Forum

TheKingIsHere:
Why will rent increase because they increase minimum wage? Please explain to us.

The first time it was increased from 7k to 18k, the price of everything almost tripled, now the 18k is much more useless than the 7k from before. I could remember vividly cause I was getting ready for uni at that time.


We need to increase purchasing power of the naira not minimum wages

KingSango:
Heal the Kings and you heal the people. The people is the body and the King is the head. KIngship is our original state so we are destined to wake up and restructure the whole African world.

kudos......

350 people owning about 5trillion naira did not cripple the economy. Foolish buogeo-economic senator.

350 people oweing about 5trillion naira did not cripple the economy. Selfish buogeo-economics senator.

Sir you are just so wrong..

Almaiga:
Your head dey there. GEJ is the cause of what we are going through as a Nation today.

How please?

But over 30 mil every month won't abi

These people asking for wage increase seems to forget that the total labour force (federal, state and local government) of Nigeria is roughly less than 5% of the country's population but are consuming over 70% of all the resources in one form or the other now they want an increase?!

Most states will just collapse.

abdeiz:
I believe increasing the minimum wage wont make our problems fly away like a magician's pigeon, what would stop a common market woman from increasing the prices of her wares? what would stop the economy from experiencing inflation if the Government decides to print more money to pay the wages?

Instead we should find a way to increase the purchasing power of our currency meaning one unit of money should buy more things not less. Our dependency on Oil aint helping our forex. Recently i heard that the naira gained cos of politician releasing an influx of election dollars, what a country.

Go to Singapore where the salaries of the minister's salaries are tied to the economy, the economy grows they get a raise, it shrinks they get sacked or get salary cuts. we dont have the collective political will to be selfless and do the right thing in this country.

While you are right regarding wages and economic diversification, no Singaporean politician has been removed from office due to a poor economy. Yes, they get reduced earnings, but not sack. Besides, their citizens complain bitterly about the high salaries the politicians get considering the high CoL and stagnant wages for workers.

Olohunjedalo:
[s][/s]
Trash .
We sane Nigerians know GEJ is the most foolish and clueless president Nigeria ever had . And we booted the fool out .
The definition of clueless.

You are the most foolish fool

bedspread:
The Nigerian system of Government is Wicked..

We had a Chance to fix all these if the reports from The Committee GEJ put up were followed...

If the reports of that commission were continued in this Presidency, we would have turned all these around...

Our Politicians are Amassing so much money..
From Counsellor to LGA chairman to Commissioners to House of Assembly members to Governors to senators to ministers to the president...

The Salaries of these guys should hv been looked into , so as to free up funds for the Nigerian workers!!

Very true. Since our politicians deem themselves as servants of the masses. A servant is not greater than his master. Let their salaries and allowances be slashed.

Nigeria can afford to pay it. Anybody earning less than #50 k how will they survive?

I SAID IT SOME PEOPLE HAVE NO BRAIN AT ALL, IMAGINE DISCUSSING SOMETHING IMPORTANT AND SOMEONE WILL BE CALLING GEJ'S NAME. MOST YOUTH ARE SO STUPID THAT POLITICIANS HAS REALLY MESSED WITH DIA FUTURE

bedspread:



As young as u are, you hv nothing Meaningful to say...
Move out bro

See your life?

Gerrard59:
While you are right regarding wages and economic diversification, no Singaporean politician has been removed from office due to a poor economy. Yes, they get reduced earnings, but not sack. Besides, their citizens complain bitterly about the high salaries the politicians get considering the high CoL and stagnant wages for workers.

Thanks i will modify my post accordingly

abdeiz:
I believe increasing the minimum wage wont make our problems fly away like a magician's pigeon, what would stop a common market woman from increasing the prices of her wares? what would stop the economy from experiencing inflation if the Government decides to print more money to pay the wages?

Instead we should find a way to increase the purchasing power of our currency meaning one unit of money should buy more things not less. Our dependency on Oil aint helping our forex. Recently i heard that the naira gained cos of politician releasing an influx of election dollars, what a country.

Go to Singapore where the salaries of the minister's salaries are tied to the economy, the economy grows they get a raise, it shrinks they get salary cuts. we dont have the collective political will to be selfless and do the right thing in this country.

Kudos to you. I wish they would listen to wisdom

This man is stupidly insane. But looting billions won't cripple the economy abi.

[quote author=tayebest post=71844199]What exactly is the national Assembly doing to this? [/qu



I can see you have issues with the NASS. The executives should be sincere enough to publish their benefits.

linusbnn:
.

I hope you believed when the executive said they slashed there salary by 50%?

CROWNWEALTH019:
Leave NASS alone what about executives and their expenses?

They keep complaining about NASS but they don't talk of their own, the money the idiat spent on treatment abroad kan

Shameless

We are in trouble

if you know that what you say when you talk would be stupid, best not to talk at all.

This senator is wicked ... 13,000000 will not crumble nigeria's economy but, 50, 000 can damage it. Wickedness of nigerian leaders

tayebest:
I hope you believed when the executive said they slashed there salary by 50%?

They tell you the same way they tell you boko haram has been defeated technically.

Baba go siddon joh!!

Islie:
http://thenationonlineng.net/n50000-minimum-wage-will-cripple-nigeria-economy/

so #50000 willl cripple the economy and the crazy millions senators take home every month wouldn't abi...chaii...we don suffer

Lol but senators collecting 65million wouldn't Abi, even with recession they still collected their own version of stipend

TheKingIsHere:
Why will rent increase because they increase minimum wage? Please explain to us.

it's the ripple effect of wage increase. it's simply economics. too much paper money --high inflation... everything is on the increase.
Landlords buy at higher prices will have to charge higher rents to cope.

My dear increasing minimum wage will only spell doom for MAJORITY of Nigerians. Price of everything will be on steady rise until the 50k is worth less than the current 18k.
The same masses will be the losers and never the politicians. But the problem is that the masses don't realise it.
What is needed is to find a way to increase the purchasing power of the Naira.

Gkay1:
The first time it was increased from 7k to 18k, the price of everything almost tripled, now the 18k is much more useless than the 7k from before. I could remember vividly cause I was getting ready for uni at that time.


We need to increase purchasing power of the naira not minimum wages

Thats exaggerating quite a bit!!!

I keep saying that we are not ready to take the bull by the horn in this country and that's partly because our leaders (and even we the followers) are too sentimental, don't have enough knowledge about basic economic and free market policies (that said I don't know it all either) etc.

Whats I would do for Nigeria if I were in charge would be as follows:

Pay the N50k minimum wage and sack about 40% of the workforce to fund it and make the federal civil service work computer based. I'd rather have fewer better motivated, competent and productive staff than more semi illiterate and unproductive staff. Have you gone to a civil service building and see how people just while away time in offices doing nothing!? The Nigerian civil service - federal and state is still in the stone age. Anyone who cannot EFFECTIVELY use a computer needs to be sacked or retired. Of course anyone let go would be paid his dues as appropriate.

Remove subsidy on petrol: A good chunk of the petrol in Nigeria is consumed in Lagos and environs and a good chunk of that again by middle and upper class who can afford it. See the amount of cars dedicated to school runs in Lagos carrying one or two kids to school!! The impact is very visible during summer break - Lagos roads suddenly become freer. Removal of subsidy will go hand in hand with privatization of govt refineries. This will make refineries a place where our younger engineers can work. Savings from current subsidy will go towards making PRIMARY and SECONDARY education free and qualitative - as much as we can afford. ( I find our people are always after free though and not necessarily qualitative).

Increase fees for tertiary education towards improving the quality and make them less dependent on government. Truth is that because of our structure, even those who dont really have the aptitude for university education crave for it. Just go to our universities and engage the boys and girls in conversation! The English (both spoken and written) is terrible, use of logic is poor, cannot argue a point or debate intelligently etc. I make bold to say that perhaps 50-70 % of those in our universities would be better off in technical and vocational colleges. How come Togo and Benin people do the best furniture, POP, Painting, screeding etc Where are our own guys?? Because they never have the patience to learn these things properly! Now some of the better mechanics in Lekki are from Cotonou!! Poor but intelligent people will be supported with scholarships from an education bank, which they will pay back on the principal...no interest!! If tuition is N500k per year i.e N2mln for 4 year course, that is something that can be paid back in 5 years with a decent job in a bank after graduation.

Remove restrictions on electricity pricing. i.e make it cost reflective. Again we say electricity can turn Nigeria around, yet we joke with it. Abuse the DISCO's as much as we like, but the truth is that if the sector does not make more money that it spends, they cannot invest and no bank will loan them money. Yet, I see again that most electricity is used by middle and upper class who have AC's, microwaves, washing machine, toaster, blender, 40" tv, dstv, home theatre, fridge and freezer all in one house!! The VI, Ikoyi, Lekki, Gbagada, Anthony, Yaba crew!! Yet these types of people are able to buy petrol and diesel for generator at circa N120 per kwh!! So why not just pay a cost reflective say N50!! As for the masses, I'd make electricity pricing staggered i.e 0-200kwh@ N27; 201-400kwh@N48 and 401kwh and above@N60....but only for those with modern meters. Everyone else at current N27. That would provide and incentive for DISCO's to install meters and would mean that the rich who use a lot of electricity subsidize the poor who use a little.

I would map out the key roads in Nigeria such as Lagos -Ibadan; Port Harcourt - Enugu; Benin - Shagamu; Abuja - Kaduna; Ibadan - Abuja and others and make the commercial with toll gates. I would concession where the concessionaire pays an upfront fee say N25bln and uses his own money to fix the road and recover via agreed toll fees per car. These are roads that Nigeria absolutely needs to have superbly motorable at all times due to their importance! These roads cannot afford a single pot hole and must we well maintained at all times. While Nigerians will grumble, but the truth is how often do I (or others) go on road trip outside Lagos or their resident cities? Cant remember last time I traveled by road. And compared to what we have now as roads (which are actually death traps), i'd rather pay N1000 toll fee for a spotless road the few times i travel and save my life than a free road that has a high chance of taking my life!!!

For rail, I'd make the NRC only an operator of tracks, but not the actual train services. Let private people come and put their trains on the tracks the same way private people have airlines but government owns the airports. Rail is mostly important for freight and not passenger. For me passenger is a bit of an afterthought after freight and logistics. This is why people say its easier to get a container from China to Nigeria, than to get it from Lagos to Makurdi!

You might notice a common theme from the above involves the private sector. That's because I'm a firm believer that the private sector is 100 times more effective and efficient than public sector. The sooner we put the engine of growth in the hands of the private sector and get away from government incompetence the better for us. Let me give a few examples. Compare the performance, innovation, quality of service etc of the following companies/industries in public and private hands:

Nitel vs MTN/Glo
Nicon Insurance (when it was govt) vs AXA Mansard
ACB bank vs GTB/Zenith
NTA vs Channels
NNPC vs Shell/Exxon
Nigeria Airways vs Aero/Air Peace
Radio Nigeria vs Cool FM/Classic FM
Old Nicon Noga vs Transcorp Hilton
Fertilizer company of Nigeria vs Notore
Eleme petrochemical vs Indorama
Unilag vs Covenant University

The list goes on and on and on and on!! If you want to wait for government services to improve, you will grow old waiting!!

bantudra:
look...people...it was us that made the prices of who earns how much.....if you realy cared you would have stopped this people from earning that much from the start....

your greed has returned to bite you....

do you realy think you have the right to deny those at the top of their wages.....??....you started this game out of long throat long ago....
you can not just come today and demand the game to be change because you didnt managed to get at the top....thats ridiculous....

enjoy...!!!!....

You and who?

studentofTruth:
it's the ripple effect of wage increase. it's simply economics. too much paper money --high inflation... everything is on the increase.
Landlords buy at higher prices will have to charge higher rents to cope.

My dear increasing minimum wage will only spell doom for MAJORITY of Nigerians. Price of everything will be on steady rise until the 50k is worth less than the current 18k.
The same masses will be the losers and never the politicians. But the problem is that the masses don't realise it.
What is needed is to find a way to increase the purchasing power of the Naira.

My Economic teacher have'nt you heard or come accross of welfarism in your economic text book, increase in standard of living. when you are pay more you teste changes, you purchase superior good and not inferior ,good education, better housing,
it will increase money circulation, since the demand for money is high to carry out personal developement project .