tomtos88:



Sorry sir, but read wat u wrote, u know its posible and with the right leadership, its a pieces of cake. Will suffering and dieing wait? U are immune to good leadership? Why wait? Why is it that whenever anything good is coming to the masses, people will say wait, bt politicians are carting aways millions daily in the national assembly doing nothing... Am sure in 20 years to come u will still be saying its not yet time, u prefer suffering and smiling, make una continue

Read what you wrote please... I never said it is not possible.

tomtos88:



U need to find out if wat he is saying is true or not, that's how intelligent people do. Sowore is gonna raise money from taxes (not extra tax bt all the big companies especially that are colliding with government workers to under pay or evade tax will be fished out with automation), he will collect back all the oils blocks that have been given to people as favour, taxes and remits that amount up to 60 billion usd that Nigerian is not collecting... Creating new source of income like the export of marijuana, budding tourism etc, its not even far fetched as experts says, a sowore winning election this years means massive investment for Nigeria, the positive impact is countless...

Sorry to say, but there is so much ignorance in this statement. It's impossible to explain the way things really works in a single thread.
Companies are already groaning under multiple taxation by federal state and local government, that is apart from high production, self infrastructural, power, etc costs. If you add high taxes and then minimum wage of N100,000, you will finally kill all companies in new Nigeria. Governments give tax breaks and reductions to encourage companies, not tax increases.
We are in a globalised we world, and you are competing with the whole world in terms of price and quality.

Exporting marijuana will be difficult and tricky. First marijuana is illegal, legalising marijuana in a religious country like Nigeria where we even criminalise homosexualism would be near impossible. Canada is way ahead of every one else in the production and exportation of marijuana. They have highly technically advanced marijuana farming that produce the best possible marijuana. It's not the weed (pun intended) that we grow in Ondo. We just can't compete.

It is easy to shout massive investments, the problem is finding the money, skills and legislation to actualise the massive investments within the terms of a single government (4years).

idid:


Please mention one?

Minimum wage in Europe is something like; 1000 euro per month, that is if you are doing a per time job per month. In naira that is about N500,000K. In South Africa, it has been increased to N126,000k recently. You are very wrong on this. All developed nations treat their workers like human beings, not dogs early 30 dollars per month.

Sir its not about the volume its about the value. Do you know the cost of goods and services in South Africa?
See that their 126, 000 Rand is like our 30, 000 naira.

When you talk about money in economics there are many things to it. What gives money value is its purchasing power.

That 100k living wage by Sowore will have economy effect. I would have preferred he makes it a gradual increment to that amount over a period of 6years. See the cost of things will increase in Nigeria if that amount is paid. Just imagine a gate man, gardener, sweeper etc collecting 100k, then it means teachers will get up to 300k as living wage and so on. See there will be too much money chasing fewer goods and services. Nigeria needs to grow to the point where our production rate of goods and services will be able to absorb that kind of money flow

tomtos88:


Where did u read in his comment that countries with highest wages are the most productive? As things are in Nigeria right now, any business that u wanna start or any production u wanna go into, u must consider that people generally can't afford much because of our wage of less than 100 usd... 100k is just about 280 usd, not near anything like wats obtained in UAE or quarter but its a huge boost because these set of people are much in number, they don't send their money to UK, dubai or USA wen they collect salary, they invest it back in the economy, businesses will grow, sme will thrive, there is opportunity or space for the economy to expand due to demand and the revolution of turning Nigeria will begin

False premises. They invest most of the increase salaries into other economies, like China, Germany or the US. They buy Chinese goods, iPhones, Samsung, Ralph Lauren, BMW, etc.
It has been tried before and it did not lead to economic expansion. Gowon increased salary abruptly in 1974 ( Udoji Awards) and it kick-started our appetite for foreign goods.

correctguy0900:


This thing easy naa...
It's human capital, productivity b4 raising wage by almost 100% and not after.

And such productivity is not quite possible within 2 years.

Using Maduro and Mugabe as examples do not include reasons their economy collapse. I thought we were still talking about the effect of a skyrocketed increase in wages without regards to the economic realities and consequences.

It's not about there's plenty of food and no money to buy but rather a mixture of both.

Hence wage increases should be in line with the volume of goods currently available for consumption.

My cent.

Sir,

I don't know what you are referring to as productivity, but I know that within two years.

Any innovative and dynamic government can lift millions of people out of poverty with some creative socio-capitalist approach to governance.

As Sowore says: As Sowore says, you can employ 200, 000 teachers in a year.

You can assemble 4,000 megawatts of Solar in a year, they did 17 in two years in Morocco and Tunisia.

You can build 20,000 homes in a year

You can remove bad policies in a year

You can fund 1000 entrepreneurs in every local government in a year

You can turnaround the tourism of some states in a year

You can finish the construction of 20 major high roads in a year..

You can give your people modern speed train in a year


I didn't say two years, I mean in a year all the above can be done.

If all of the above can be done in a year, you can create 3 million stable jobs or more.

And that is the magic that Atiku and Buhari cannot do.

idid:



Clap for yourself.. Mr Economist!

Your questions show that you guys don't listen at all, you just criticize for nothing on the internet, maybe because you have been conditioned to think that nothing good is possible.

I don't need to explain at all. Sowore has addressed all your question severally and in his town hall meeting on NTA, I put a link below.

Yes, salaries of top cadre civil service workers will also increase but the math means we will only need $1.5 billion dollars more per year to start paying all federal workers the minimum wage. Sowore says he will increase tax collection to 15-20 per cent from mere 7 per cent currently and that will give us over $1.5 billion needed.

He cited a multinational company paying less than 300 million naira when they should be paying over 2 billion naira in tax per year.

You too work the rest out.


https://www.youtube.com/watch?v=SVz1ed2TPnU

Sowore is an ignorant person. That's his problem.
Let me give it to you:

Effective tax rate is currently at about 24%.

If you raise taxes, companies will simply lay it off on her customers in form of price increase. That's basic economics even sowore (the "future" is ignorant of.

External reserve CANNOT be multiplied by 5 (500% increase) within 4 years. This is not ponzi scheme.

What does external reserve have to do with this? Here it's:

If you give everyone times 5 their spending power overnight, importation WILL increase proportionately. Why? Prices of things WITHIN Nigeria will increase as the spending power of the Nigerian worker increases. So everything cancels out and comes back to as they were in terms of price to wage ratio.

So importation will multiply proportionally. Leading to depletion of our reserves by the same factor. Leading to extremely massive trade deficit.

Naira will be at at least 2k to the USD before that year ends.
I can go on and on

Newboss:
I know some really maligned and easily swayed folks believed he would set minimum wage at that.

That alone was enough reason to avoid him because he's simply pressing people's mumu buttons while claiming to be the future. If you pay 100k minimum wage and the SSCE holder gets 100k, your brain should tell you that you MUST multiply the HND guy's pay by the same factor. In fact, everyone will get an automatic exponential raise ELSE the guy who was on 100k before will be on the same pay with the minimum wage earner. Of course, that's dumb.

Wages are raised gradually. That's common sense. If not, na Venezuela you go turn to soon. SMH

God bless you my brother. Many people are ignorant. I wish Sowore enters this Saturday but he needs a team of economist that will advice him better. Like you said the increment should be gradual.

Newboss:


Sowore is an ignorant person. That's his problem.
Let me give it to you:

Effective tax rate is currently at about 24%.

If you raise taxes, companies will simply lay it off on her customers in form of price increase. That's basic economics even sowore (the "future" is ignorant of.

External reserve CANNOT be multiplied by 5 (500% increase) within 4 years. This is not ponzi scheme.

What does external reserve have to do with this? Here it's:

If you give everyone times 5 their spending power overnight, importation WILL increase proportionately. Why? Prices of things WITHIN Nigeria will increase as the spending power of the Nigerian worker increases. So everything cancels out and comes back to as they were in terms of price to wage ratio.

So importation will multiply proportionally. Leading to depletion of our reserves by the same factor. Leading to extremely massive trade deficit.

Naira will be at at least 2k to the USD before that year ends.
I can go on and on

My brother abeg leave them to their ignorance. You are just wasting your time trying to educate people economics 101.
Let them live in their utopia.

idid:


It is your type that we must avoid, your type likes to imprison people and deny them of their rights.
You are the type of Nigerian who employ house boys and house girls up and down without paying them their dues.
If everyone gets an automatic raise, won't that automatically increase per capita GDP? If that happens, won't we alleviate poverty?
Yes, there can be inflation for a short term in case the policy is not well executed, but it can be controlled too in the long term.
And why is it that workers don't deserve 100k but senators in Abuja deserve 14 million per month. Doing what?

Sir there are something we need to understand. See its not about how much the senators are collecting its about how cash flow from the masses will not cause inflation. Lets start by calculating the number of gate men, Gardeners, Sweepers etc in the country and then calculate the teachers and so on. Its better the increment is done gradually over a period of time

wirinet:


False premises. They invest most of the increase salaries into other economies, like China, Germany or the US. They buy Chinese goods, iPhones, Samsung, Ralph Lauren, BMW, etc.
It has been tried before and it did not lead to economic expansion. Gowon increased salary abruptly in 1974 ( Udoji Awards) and it kick-started our appetite for foreign goods.

Stop saying wat u can't prove... With 100k, wat can u afford? Designer shoe? Do u actually think people survive on 30k monthly? They steal, they neglect their jobs, they become unproductive and not interested in their jobs, but with 100k, they can finaly stop worrying about how to survive decently and concentrating on their jobs... These civil servant are not kids that go for flashy things, they are more concerned to make a living... Na small pikin they chase after all those things u mentioning.. That's a fact. U can pay 14 million naira to senators bt it now becomes a crime to pay a fraction of that to ur workers? Haba, why this wickedness... And this is a gonna be a country with vision and direction, our import will be reduced drastically, even if we are gonna be consuming some foreign goods, we expect them to bring their factory here, transfer knowledge, employ people and also pay them well... Win win

McStoic:
Hmmm.....Lai Brown kwa. I am wary of any idea coming from anything or anyone bearing Lai as a name. Obidient Atikulation is the vogue joor.

Caveat: This promise is synonymous to the kind of konji induced promise someone makes while begging for sex.

Another personal attack. This time on the name of the person rather than carefully peruse the article.

What is wrong with atiku supporters? Are y'all bunch of secondary school kids or just plain illiterates?

wirinet:


Sorry to say, but there is so much ignorance in this statement. It's impossible to explain the way things really works in a single thread.
Companies are already groaning under multiple taxation by federal state and local government, that is apart from high production, self infrastructural, power, etc costs. If you add high taxes and then minimum wage of N100,000, you will finally kill all companies in new Nigeria. Governments give tax breaks and reductions to encourage companies, not tax increases.
We are in a globalised we world, and you are competing with the whole world in terms of price and quality.

Exporting marijuana will be difficult and tricky. First marijuana is illegal, legalising marijuana in a religious country like Nigeria where we even criminalise homosexualism would be near impossible. Canada is way ahead of every one else in the production and exportation of marijuana. They have highly technically advanced marijuana farming that produce the best possible marijuana. It's not the weed (pun intended) that we grow in Ondo. We just can't compete.

It is easy to shout massive investments, the problem is finding the money, skills and legislation to actualise the massive investments within the terms of a single government (4years).

It will do u alot of good to read and understand before u comment next time, i did not say, increase tax, i said, collection of tax... Did u know, the rate of tax collection in Nigeria is around 7%, that can be increased to 15% simply by making sure big companies stop short changing the country in connivance with government workers... U used the word, automation. On marijuana, its about exporting it, not legalising it for consumption, as a matter of fact, Sowore campaign already has a legal frame work in place to start the process immediately he resume office... Nigeria burn marijuana worth 1.5 trillion yearly, polluting the environment where they burn it, putting the people in the community at health risk and hazard... Why don't we remove those obstacle and import it, we didn't said, legalize it that will make it available for everyone... This is gonna be a strictly control process, from farming to collection to export. This is wat we call, thinking outside the box... A win win

Chatflick:

Read what you wrote please... I never said it is not possible.

Was asking u, why do u say we should wait for another 4 years of suffering? Wat happens to now? To have a good economy and lift people out of poverty, have to wait for wat? Do u even know if u will be alive in another 4 years?

tomtos88:


Too bad u don't read and don't care to find out before u type... Sowore agenda is all about the people at the bottom, which has been neglected, because of bad condition, they have become unproductive, involve in corruptions and generally neglect for work... This 100k minimum wage is to bridgw the gap between the wide difference of those on minimum wage and those on maximum wage, not everyone going to get a raise. Assume it as a new structure of payment that makes the wage structure more reasonable starting from 100k not multiply by 5 like u saying... With Sowore calculations, he will be needing just about 1.6 billion usd yearly to pay this extra... Are u satisfied now?

This funny so the present workers earning 100k now how much will they be collecting when he wants to start paying people at the bottom of the ladder 100k?

See Nigeria problem is electricity, security and refinery. If we fix electricity in this country the price of goods and services will come down. When that happens the value of money will increase. Fix security same will happen. Fix refinery same will happen. Price of oil will drop and before you know it 30, 000 naira will be like 100, 000 naira of the past.

Olumyco:


Sir its not about the volume its about the value. Do you know the cost of goods and services in South Africa?
See that their 126, 000 Rand is like our 30, 000 naira.

When you talk about money in economics there are many things to it. What gives money value is its purchasing power.

That 100k living wage by Sowore will have economy effect. I would have preferred he makes it a gradual increment to that amount over a period of 6years. See the cost of things will increase in Nigeria if that amount is paid. Just imagine a gate man, gardener, sweeper etc collecting 100k, then it means teachers will get up to 300k as living wage and so on. See there will be too much money chasing fewer goods and services. Nigeria needs to grow to the point where our production rate of goods and services will be able to absorb that kind of money flow

My brother,

N100k ($280) is well deserved by our workers and you should not listen to anyone saying that it will cause inflation.

Such argument will hold water when there are no growth policies to accompany it.

As it is, Sowore has promised growth in tourism, healthcare, education and so on.
Imagine if our citizens do not take the over billion naira per year abroad for medical tourism, that means that our nurses and doctors can be more productive. That is how production works.
Imagine if we do not all rush to Europe and elsewhere for tourism and go to Obudu, Mambila, Argungu. We go an watch Eyo, Egungun and we all troop to Anambra or Enugu New Yam festival. Then we can boost our local leisure, tourism, travel and hospitality industries and attract more people from abroad.

Imagine, if we can pay teachers well so that they don't go abroad in search of opportunities, that means that we can improve the employability of our youths. That is where production depends.

You people get the concept of "Economic Production" wrong.

It is not simply about buying, or purchasing as such. It is about the effect and the multipliers effect as well. It is also about how the community or a society can balance its supply and demand system, not necessarily through production of goods. In modern economics, you should be concerned about the availability and distribution of services.

What are many Middle Eastern countries producing. What is Europe producing. Britain is only distributing services. When last I checked, Inflation was less than 0.30 percent. Britain's manufacturing sector is less than 4 percent of GDP.

So to refer to your example, if a teacher collects 300,000 per month. It doesn't mean that because there are less goods produced in Nigeria, she will use all of her money to pay for her house rent. That is hyper inflation, and that is Mughabe's kind of careless economics.

What I am saying is that, as long as you have a good healthcare, tourism, education, technology, logistics, and SME sector that is thriving. The economy will do just fine. All of that can be achieved in a short time too.

You should ask how Sowore will improve tourism, technology and the SME sector. If he fumbles in those areas, we can then say that N100k minimum wage is wrong. For me, I case if he will turn Nigeria into a tech, SME and service hub of Africa.

I laugh,swore does not the implication of what he is said. minimum wage is not only decided by government,you put the private sector and the ordinary employer of labour into consideration.if you say the minimum wage should be 100k,can the ordinary business man who employs labour pay,can all the states pay.so it's not a single man consultations but all stake holders have to sit down and agree on an amount considering some things.

ainas247:
How much is 100k ? Nigeria Government just selfish, senators over 13M monthly take home doing. Nothing...

Dominate Google page one with your business see results in my profile guaranteed

Sowore will lead Nigeria in 2023! God willing. The task of kicker NGO Buhari out is a task without compromise. That is the only reason why majority of the opposition are voting Atiku now. 2023 will be a game changer. Hopefully oil would have lost its value significantly by then so the masses will think better and money politics will take back seats.

Sowore will lead Nigeria in 2023! God willing. The task of kicking Buhari out is a task without compromise. That is the only reason why majority of the opposition are voting Atiku now. 2023 will be a game changer. Hopefully oil would have lost its value significantly by then so the masses will think better and money politics will take back seats.

Olumyco:


This funny so the present workers earning 100k now how much will they be collecting when he wants to start paying people at the bottom of the ladder 100k?

See Nigeria problem is electricity, security and refinery. If we fix electricity in this country the price of goods and services will come down. When that happens the value of money will increase. Fix security same will happen. Fix refinery same will happen. Price of oil will drop and before you know it 30, 000 naira will be like 100, 000 naira of the past.

Its quite obvious u wount admit being uninformed... Who says he wount provide electricity? Security? Fix refinery?

He will produce electrify in a record time of 3 years from the 7k mega watt we have to 24k mega watt. Back to Minimum Wage, this wage isn't to increase everyone's wage, sure, someone who is on 100k will get increase, but the gap will be close greatly. The idea is not to increase wages of those already earning above that amount, but to structure it to be more closely, starting from 100k, some wount be getting a raise at all. So, after u have electrify, and u collecting 30k, wat can u do with 30 K? That's for u to live on 1k daily, where will u get money to pay rent? Taxes? If u have wife? Children? Wat about ur own health? Wount u like to be ur own landlord someday? Our 100k is a living wage, that will enable u to live like a decent human being and still be able to afford the basics of life.

5thElement:
Best candidate for the job.

Sowore will lead Nigeria in 2023! God willing. The task of kicking Buhari out is a task without compromise. That is the only reason why majority of the opposition are voting Atiku now. 2023 will be a game changer. Hopefully oil would have lost its value significantly by then so the masses will think better and money politics will take back seats.

idid and Tomtos88 no sabi economics at all. Dem no even sabi argue well.

Two of you were busy throwing subtle insults at Chatflick, wirinet, Newboss, correctguy0900, Olumyco and others.

You didn't read and understand their arguements well and you were throwing little jabs at them. They never insulted you in any way. Stop insulting their intelligence and their comprehension skills.

You won't do Sowore any good by arguing blindly and unintelligently.

My vote is for Sowore but the N100k minimum wage is total crap and bullsh.it.

Nigeria is not ready for that.

Newboss:


Sowore is an ignorant person. That's his problem.
Let me give it to you:

Effective tax rate is currently at about 24%.

If you raise taxes, companies will simply lay it off on her customers in form of price increase. That's basic economics even sowore (the "future" is ignorant of.

External reserve CANNOT be multiplied by 5 (500% increase) within 4 years. This is not ponzi scheme.

What does external reserve have to do with this? Here it's:

If you give everyone times 5 their spending power overnight, importation WILL increase proportionately. Why? Prices of things WITHIN Nigeria will increase as the spending power of the Nigerian worker increases. So everything cancels out and comes back to as they were in terms of price to wage ratio.

So importation will multiply proportionally. Leading to depletion of our reserves by the same factor. Leading to extremely massive trade deficit.

Naira will be at at least 2k to the USD before that year ends.
I can go on and on

Sir,

I sense an attempt to discredit Sowore.

Tax collection is not 24% currently, I just did a fact check and it is 6% and the poorest in Africa. So, Sowore is right afterall.

Look at this financial report link below..

https://guardian.ng/business-services/nigerias-tax-gdp-ratio-remains-one-of-the-poorest-in-africa/

You have also confused increasing collection with tax increment. He has not proposed increasing taxes at all, but to improve collection to an effective rate of 17 to 20 percent. Even if we achieve 12 percent, that money can take our people out of poverty.

And no sir if you give more purchasing power to people by increase your minimum wage.. and at the same time increase the quality of your local tourism, education and healthcare.

The middle class will start patronizing the local tourism industry, people will go to Obudu cattle ranch and so on.. ..they will not look for healthcare abroad and will not send their kids to school in Togo, Ghana or London.

That is how to eliminate poverty and that is modern economics..

WE SAY NO TO SOCIALISM WE CAN CLEARLY SEE HOW IT IS TURNING OUT IN VENEZUELA.

wman:
idid and Tomtos88 no sabi economics at all. Dem no even sabi argue well.

Two of you were busy throwing subtle insults at Chatflick, wirinet, Newboss, correctguy0900, Olumyco and others.

You didn't read and understand their arguements well and you were throwing little jabs at them. They never insulted you in any way. Stop insulting their intelligence and their comprehension skills.

You won't do Sowore any good by arguing blindly and unintelligently.

My vote is for Sowore but the N100k minimum wage is total crap and bullsh.it.

Nigeria is not ready for that.

Please, point out where i insult someone o. How can i write something and u termed it something else, isn't that person having comprehension issue or just intentionally ignoring my post?
I doubt u are for sowore, if u are, u wount even doubt the 100k,. One of the first thing u will learn from sowore is, government intentionally put people in mental slavery by misleading them, they will tell u things like, Nigeria is complex, we don't have money for this or that. Provide electrify, roads and good working condition, security, jobs for Nigerians and see how it will become like magic that u are performing

Dbboy:
WE SAY NO TO SOCIALISM WE CAN CLEARLY SEE HOW IT IS TURNING OUT IN VENEZUELA.

Do you call that Socialism? when you can't diversify.... and you have no respect for the US who buys most of your single product. Oil!

... that is Stupidism...

And if not socialism, please propose what will solve Nigeria's poverty problem?

Capitalism?

Is Europe and the US not Socialist?

What do you think they are?

Luciferchrist66:
What is this afonja saying?
Sai baba will do it.
We are happy with our 30k

not me and you for 30k bro

Luciferchrist66:
What is this afonja saying?
Sai baba will do it.
We are happy with our 30k

now I can see why sufferness runs in your blood

wman:
idid and Tomtos88 no sabi economics at all. Dem no even sabi argue well.

Two of you were busy throwing subtle insults at Chatflick, wirinet, Newboss, correctguy0900, Olumyco and others.

You didn't read and understand their arguements well and you were throwing little jabs at them. They never insulted you in any way. Stop insulting their intelligence and their comprehension skills.

You won't do Sowore any good by arguing blindly and unintelligently.

My vote is for Sowore but the N100k minimum wage is total crap and bullsh.it.

Nigeria is not ready for that.

What do you stand for?

And what is Nigeria ready for? Continuous suffering?

Why won't we be tough on you, when you people are talking 1970 economics as if it is what will solve a 21st century problem.

We don't need socialism, we don't need N100k, we don't need this, we are not ready that.

Do you want this continuous abysmal life?

If you don't want a New Nigeria, many people are waiting for it and the revolution is here..

Lovetoglory:
I think Sowore got it very wrong. Go to to other developed nations of the world like the US, China, England, etc. They don't pay their workers in volume of cash. They only stabilize the economy and made everything cost of living very cheap. That is why if they are given a meagre amount, it can purchase more. If a worker receives 10000 naira as salary, it should be able to cater for many wants. So Nigeria's ecenonmy needs to stabilise that is what the country needs now. Not more salaries cause even those with more than enough salaries say one mila, are still crying wolf let alone .

pls you're wrong ILO all those countries salary scale 100k never to much oooo