Ynix's Posts
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 Business › Re: See 1 Kuwaiti Dinar To Naira by Ynix(m): 6:58am On Jun 06, 2024 |
LadyExcellency:They revalued their Currency, dumped the paper not for gold made coins |
| Crime › Re: Please Help And Advice by Ynix(m): 12:32pm On Jun 05, 2024 |
bolaji0505:chat me up on 08089456258 |
| Crime › Re: Please Help And Advice by Ynix(m): 12:00pm On Jun 05, 2024 |
bolaji0505:You are addicted to sportybet, you need strategy to stop this thing. Look for an accountability partner Set your account to do automatic withdrawal to an account you can't access for like 6 month or a year 1 Like |
| Business › Re: Femi Otedola Exposes ‘fraudulent’ Transactions In Zenith Account by Ynix(m): 11:54am On Jun 05, 2024 |
GODPUNISHALABI:He waylay am for 2008 1 Like |
| Family › Re: . by Ynix(m): 11:20pm On Jun 04, 2024 |
SomeoneTalkToMe:You dey Naija ba? |
| Politics › Re: BREAKING: FG Offers To Pay Above N60,000, Reaches Agreement With Labour by Ynix(m): 1:44am On Jun 04, 2024 |
So that means Nigerians minimum wage is barely 47 USD. We really need to De-dollarize our economy 1 Like |
| Politics › Re: Is 490,000 Naira Realistic As Minimum Wage? by Ynix(op): 9:07pm On Jun 03, 2024 |
advanceDNA:It's really a high level of Stockholm syndrome |
| Politics › Re: Is 490,000 Naira Realistic As Minimum Wage? by Ynix(op): 6:43pm On Jun 03, 2024 |
Solofresh2:true 1 Like |
| Politics › Re: Is 490,000 Naira Realistic As Minimum Wage? by Ynix(op): 6:32pm On Jun 03, 2024 |
Solofresh2:That's really pathetic 1 Like |
| Politics › Re: Is 490,000 Naira Realistic As Minimum Wage? by Ynix(op): 6:31pm On Jun 03, 2024 |
If we choose to increase our minimum wage there are things we will eventually begin to condition ourselves to work on for improvement, one of it is our GDP and Economic Competitiveness. China had a long term plan to raise up to 100 Millionaires in dollars and they achieved it. There are giant steps we must take if we really want to become what others have achieved |
| Politics › Is 490,000 Naira Realistic As Minimum Wage? by Ynix(op): 6:19pm On Jun 03, 2024 |
The discussion surrounding the feasibility of 490,000 Naira as a minimum wage in Nigeria is both timely and essential. At the moment the Nigeria Labour Congress, Trade Union Congress among others are on Strike to articulate their proposition for an increased minimum wage based on the situation of the economy and its impacts on Nigerians. While some may argue that such a figure is unrealistic given the current economic challenges, a deeper analysis reveals that this goal is attainable. Key factors such as Nigeria's debt profile, human development index, and governmental willpower play significant roles. Here, we explore why a 490,000 Naira minimum wage is not only realistic but also necessary for national transformation. Comparative Analysis: Learning from Global Examples 1. Human Development and Economic Output: This might not sound like a good analogy to use but the fact is that ‘A well-fed cow produces the greatest amount of milk’, similarly, well-paid workers are more productive. Nigeria’s weak human development index, which includes poor education, healthcare, and living conditions, directly contributes to our poor salary scale and standard of living. Countries with high human development indices, like those in Scandinavia, demonstrate that investing in human capital yields significant economic returns. For example, Norway’s robust social systems and high minimum wage correlate with their high productivity and quality of life. 2. The Australian Mining Model: Australia's mining sector provides a pertinent example. Despite the high cost of labor, the country remains one of the leading producers of minerals globally. The key is investment in advanced technology and training, which boosts productivity to justify high wages. Nigeria can adopt a similar approach in sectors such as oil and gas, where we already have a comparative advantage. By improving education and training, we can enhance productivity, justifying higher wages. 3. The Netherlands’ Agricultural Success: The Netherlands, a small country in terms of landmass, is the world’s second-largest exporter of agricultural products. This success is attributed to technological innovation and efficient farming practices. Nigeria, with its vast arable land, can revolutionize its agricultural sector by adopting modern techniques and investing in human capital. Higher wages in agriculture would not only improve living standards but also boost productivity and economic growth. 4. South Korea’s Industrial Leap: South Korea’s transformation from a war-torn nation to an industrial powerhouse offers valuable lessons. Central to this transformation was the government's focus on education, technology, and industrial policies that encouraged high wages and high productivity. Nigeria can emulate this model by fostering an environment where education and industrial growth go hand in hand. Economic and Social Implications 1. Boosting Consumer Spending: Increasing the minimum wage to 490,000 Naira would enhance purchasing power, leading to higher consumer spending. This, in turn, stimulates economic growth as businesses expand to meet the increased demand. A robust internal market is crucial for sustainable economic development. 2. Reducing Poverty and Inequality: Higher wages would lift millions out of poverty, reducing inequality. This social upliftment is essential for national stability and economic progress. As noted by economists like Joseph Stiglitz, reducing income inequality can spur economic growth by enabling a larger segment of the population to contribute to and benefit from economic activities. 3. Attracting Foreign Investment**: A well-paid, skilled workforce attracts foreign investment. Companies are more likely to invest in countries where the workforce is productive and the business environment is stable. By addressing our human development index and wage issues, Nigeria can become a more attractive destination for investors. Challenges and Government Willpower The primary challenge lies in our debt profile and the government’s commitment to economic reforms. Effective management of public resources and a focus on industrialization are essential. The government must demonstrate the willpower to implement policies that drive national transformation, such as investing in infrastructure, education, and technology. Economists like Jeffrey Sachs emphasize the importance of strategic government interventions to break the cycle of poverty and spur development. Nigeria must prioritize policies that foster economic growth through human capital development and industrialization. Increasing the minimum wage to about 490,000 Naira is not only realistic but essential for Nigeria’s socio-economic transformation. As Obafemi Awolowo once said, “The children of the poor you failed to train will never let your children live in peace.” And as Nelson Mandela rightly put it, “It always seems impossible until it is done.” Nigeria must rise to the challenge, ensuring that a fair minimum wage becomes a reality for the betterment of all. 1 Like |
| Business › Re: $30 Sol Available For Trade by Ynix(m): 1:16pm On Jun 02, 2024 |
servicom101:swap it to USDC and send it to Luno or Yellow Card and sell it they will pay instantly to your bank account |
| Webmasters › Re: Seen, thanks. by Ynix(m): 6:46am On Jun 02, 2024 |
CreativeGee:Call or chat me, I have a younger sister very good at it, 08089456258 |
| Romance › Re: Why Would A Lady Deliberately Be Doing This? by Ynix(m): 6:56am On Jun 01, 2024 |
vybzkartel: |
| Romance › Re: Why Would A Lady Deliberately Be Doing This? by Ynix(m): 6:15am On Jun 01, 2024 |
vybzkartel:Why can't the boss suspend her or giver her query 8 Likes |
| Business › Re: Please What Type Of Business I Can Start With 3 Million Naira by Ynix(m): 7:48am On May 30, 2024 |
Mozenge1:It's up to you and it also depends on the kind of job you do are you a salary earner, if yes then a digital business is your best choice, are you a business person then there different options from Agriculture to Technology to Real Estate, and the good part of it is if you are consistent in keeping your books there are grants available locally and internationally if you want to upscale. You can chat me up on 08089456258 if you need any further clarity |
| Properties › Re: Can #20m Build This House? by Ynix(m): 11:39am On May 27, 2024 |
ChybuzzDD:True sha because of inflation |
| Properties › Re: Can #20m Build This House? by Ynix(m): 7:06am On May 27, 2024 |
MDDarah84:Not so. I don't mean substandard materials, there are materials that are luxury while there are others that are essential, location also matters. If you need a Cost Estimation reach out to me, I am a Civil Engineer my number is 08089456258 1 Like |
| Crime › Re: I'm Owing Online Load App 500k Will They Arrest Me by Ynix(m): 5:47am On May 27, 2024 |
Kernalboy:they don't have the right to your account, open a new one that you will be using. The number because they will disturb you. Use the time to raise the money by saving and pay back your principap |
| Dating And Meet-up Zone › Re: Is It Normal For Nigerian Men To Talk Badly About Their Wives? by Ynix(m): 5:44am On May 27, 2024 |
Peacefulplace:He must have had a traumatic background as a child, give him peace. Don't argue with him, try honouring him and rubbing his ego for 1 month and see how things will change |
| Politics › Re: Two Of Tinubu’s Key Policies Necessary But Wrongly Implemented – Obasanjo by Ynix(m): 5:00am On May 27, 2024 |
happney65:Bros you are on point, one of the greatest mistake we made was not allowing him to go for third term. Look at what he did, He Saved roughly $60 Billion, our debt was just about $500 Million. He realized that NNPC and the refinery was a major reason why we spend a lot and inflation is high, he sold two of the refinery weeks to leaving office which Yaradua reversed. If he had entered for third term he would have dealt with the northern oligarchy, mesmerized Boko Haram. The man is smart 33 Likes 3 Shares |
| Properties › Re: Can #20m Build This House? by Ynix(m): 4:53am On May 27, 2024 |
dawnomike:It's possible depending on construction materials |
| Romance › Re: I Was Born Cursed by Ynix(m): 4:46am On May 27, 2024 |
Ilamina:Come out of the curse now |
| Business › Re: Please What Type Of Business I Can Start With 3 Million Naira by Ynix(m): 3:47am On May 27, 2024 |
Mozenge1:Have you done your cost analysis, I don't think it is enough. My advice have good options, best options and do you analysis |
| Crime › Re: I'm Owing Online Load App 500k Will They Arrest Me by Ynix(m): 10:47pm On May 26, 2024 |
Kernalboy:keep it away. Go to your banks and change your phone numbers 1 Like |
| Crime › Re: I'm Owing Online Load App 500k Will They Arrest Me by Ynix(m): 10:38pm On May 26, 2024 |
Kernalboy:You better go and lose your number |
| Foreign Affairs › Re: Calls, Search Parties, Drones: 17 Hours To Find Iran’s President ( Pics) by Ynix(m): 8:25pm On May 26, 2024 |
vibratingpenis:A Christian na, Yoruba |
| Computers › Re: I Want To Upgrade My Windows 7 To Windows 10. I Reside In Enugu by Ynix(m): 4:07pm On May 26, 2024 |
Uzoeghelu:chat me up on 08089456258 make I send you a link and how to set it up |
| Sports › Re: Olarenwaju Kayode And Zinny Olanrewaju White Wedding Pictures by Ynix(m): 2:27pm On May 26, 2024 |
Now they have three kids belonging to another man 5 Likes |
| Christianity Etc › Re: Despite The Millions Of Churches In Nigeria; Nigerians Continue To Suffer From.. by Ynix(m): 6:02am On May 26, 2024 |
SpiritualWealth:Which of them, the big or the small ones |
| Foreign Affairs › Re: Calls, Search Parties, Drones: 17 Hours To Find Iran’s President ( Pics) by Ynix(m): 2:01am On May 26, 2024 |
SultanOfPuna:Saudi Arabia and Israel are both sons of same Grand father, their Grand parents came all the way from Ancient Iran. All of them are after seeking for promise lands, the whole idea is about land grabbing tourism and economics. What I wonder is why we factionalize ourselves here in Africa chosing one faction beyond the other when we are supposed to liberate ourselves 1 Like |
