membranus:


Our little knowledge in Economics tells us that there is no way the government can stabilise the exchange rate now without a commensurate increase in the national productive capacity and export. Also any unconditional opening of the national borders will only flood the country with cheap and low quality products from other country, therefore destroying our local manufacturers.

However the country is still relatively rich, let the wealth be equitably distributed by considerably jacking up the workers living wages to at least N120,000 to ameliorate their suffering.

You are too funny and very very irrational in your economics studies submission.

So countries that opened their borders are suffering from influx of fake products

Sorry who is your Economics teacher or lecturer he deserves to be fire.

735i:


Do you ever process your thoughts before you post?
60k minimum wage means people can spend more. Demand will rise... manufacturers will be incentivized to increase supply... translates to more jobs which translates to more taxes for the government.

Companies are shutting down and leaving because cost of production is rising and demand is thinning out

My 8 year old niece knows this!

Stop make posts about things you know absolutely nothing about.

The only thing he understands his politics of sharing the national cake.

Jayhome24:


You are too funny and very very irrational in your economics studies submission.

So countries that opened their borders are suffering from influx of fake products

Sorry who is your Economics teacher or lecturer he deserves to be fire.

Mr. Know all, that means you know better than the economic team running the country at the ministerial level who knows it is better to keep the borders close for now. So go on and open the borders for them now.

Also tell me your qualification on International Economics before you start mouthing rubbish on this platform. An ignorant person claiming mastery on what he knows nothing about it.

Prigidypogodo:
a country that maps out over 200 billion for some useless religious adventure should be able to pay workers 100k minimum wages.
inflation no affect us when ministers, senators and public servants including presidency lavish billions on irrelevant things.
it's when workers demands an increment that inflation will happen.
yes let them increase our salary and let's see the inflation.
make una stop all these nonsense and stop defending rubbish.
If you guys know how much is being carted out of this country on irrelevant stuffs you'll see that Nigeria can easily pay 150k minimum wage and nothing will happen.
a federal senate that offers virtually nothing is being paid millions since democracy till today excluding their constituency funds which they embezzle.
inflation no hit Nigeria na when poor workers demands ordinary few thousands will heaven fall.
well I can never trust political writers and you're one.

capatainrambo:
The govt have excess money. This was the gave out 800billion for some useless hajj irrelevant to Nigeria. Fleece them of that excess money so they concentrate

All the anti Islamic bigots have gathered

ddippset:
Even if you want to sympathize with Government and then you remember the following things, you will get angry and change mind..

1. Using 80 Billion to sponsor Hajj.
2. Buying 160 Million Naira SUV for one senator.
3. Tinubu's over bloated cabinet, still having the balls to employ the highest number of ministers ever.
4. Using 15 Billion to renovate VP's residence.
5. Budgeting billions for Aso Rock animals.
6. Beta Edu's case swept under.
7. Seyi Tinubu buying mansion in London for 11 Million dollars.
8. Using over 7 Billion to buy vehicles for Remi Tinubu's office and the presidency.
9.


You look at these things and expect people to be reasonable

Dey play!

look pal, this current government is extremely wicked.

Oluwale brain that cannot run a 2 by 2 shop na brain

helinues:
Toh

My own curiosity is, if some states are still paying the N18k minimum wage claiming they can't afford N30k.

How then do you expect such states to pay anything above N100k?

We are even yet to talk about the private sectors. Would they be able to afford above N100k minimum wage? Even if the minimum wage is pegged around N80k, there would still be lay off.

How about the inflation the ridiculous amount N464k abi na how much NLC would cause?

https://www.nairaland.com/8113134/n70-n80k-realistic-minimum-wage

That's daft thinking with all due respect. Because they don't pay 30K doesn't mean they can't pay,and because they ain't paying doesn't mean you should just let it be. Plus do you know the revenue accrued to these states after subsidy removal?? If you do, you go carry placard go street protest.

Nigerians deserve a better pay

Anything less than 100k is unacceptable..

[quote author=TonyeBarcanista post=130283697][/quote]

Mr man, take your reasonable somewhere else. Is the Govt reasonable or responsible? When you fail to prepare, the rest you can imagine

yommen:


Labour know they can't get 464k. They just want something reasonable. Government should be reasonable too. An average senator earns roughly 13m every month while you who do the work is demanding for 80k. Benin Republic minimum wage is CFA52,000 which amounts to N127,000. Same goes for Togo. SA is N2,150. 8 hours in SA is N17k. I. 20 days, you have over 300k in Naira. Why are you demanding for 80k? Senators earn up to N13m every month. Go and change your poverty mindset.

What useless inflation are you talking about.? A bag of rice already rose from 8k to 80k with the same 18k/30k minimum wage. From January last year till now, garri rose from 1,200 to 4k. What other time of inflation do you now want to talk about?

Labour should focus there attention and fight to the National Assembly to reduce their fat salehand other benefits. I'm surprised the LP senators are no more saying anything since they got elected.

helinues:


The social intervention programs by FG could litigate the effects of the increase in minimum wage

when as the social intervention program ever worked,

As far as the present Nigeria nature is concerned, Subsidy on commodity/product directly is the only form of intervention from govt that can mitigate inflation on short & long run
Instead of Govt govt incuring new minimum wage expenditure into the budget why not revert it to subsidize fuel ...

Sometimes i wonder how the educate class in governance think, common sense fit solve most of our problem

[quote author=TonyeBarcanista post=130283697][/quote]

/
You noted that salary increment resulted in runaway inflation.

So what do you say about now that inflation is leading salary increment? Salary is pretty much trying to play catch up.


/

If the Govt is wise ,they should have increased the wages without much ado.. now that they have dragged labour to agitate for their rights ,they should be ready to pay for their laxity

TonyeBarcanista:

Bro, at 60k minimum wage, cost of commodities will increase significantly, workers will be laid off, people will suffer. NLC is misguided

What should be the way out?
NLC means of curbing their suffering is through minimum wage. They can't advocate for the general masses or force the market price to come down.
They are not civil societies or activists, they are labour leaders.

[quote author=TonyeBarcanista post=130283697][/quote]
There is hyper-inflation already. Salary has remained static for years. Do you want Nigerians to start dying on the streets before you realize they deserve a salary increase. In 2016, how much was a loaf of sliced bread? How much was a tin or sachet of milk? How much was a paint of garri?
You may be rich and have the whole world but show some empathy and common sense in matters like these

triplechoice:


I'm afraid your understanding of economics is not good enough.

Economics says that when minimum wage is increased it will help boost the economy.

An increase in the purchasing power of workers due to wage increase will results in the demand for more goods and services which favours local businesses that will pay tax to the government to increase government revenue.

Manufacturers will also increase productivity to meet up with the surge in the demand for what they produce and wouldn't mind to reduce their prices so they can easily and quickly sell of they excess products they're now flooding the market with due to an increase in demand.

Employment will also results from such increase productivity as they will need more hands to work with them.

So it's not what you think. You people are only seeing one thing and blind the benefits of an appreciable increase in minimum wage.

The government"s attention is more focused on stealing what they can before their tenure expires and so don't care to listen how minimum wage can help the economy.

"Make I chop my own Na My turn. No be me go make Nigeria better " That's the mentality of the average Nigerian politician in power.

Modified. When manufacturers produce more it will increase supply to the market, and an increase in supply will definitely results in lower prices in the long run

Basic ECN101. How can you run an economy whereby you monthly wage cannot fill your tank or buy a 50kg bag of rice, or buy 6 tubers of yam?
Obviously,the economy cannot sustain manufacturers but only importers.

triplechoice:


I'm afraid your understanding of economics is not good enough.

Economics says that when minimum wage is increased it will help boost the economy.

An increase in the purchasing power of workers due to wage increase will results in the demand for more goods and services which favours local businesses that will pay tax to the government to increase government revenue.

Manufacturers will also increase productivity to meet up with the surge in the demand for what they produce and wouldn't mind to reduce their prices so they can easily and quickly sell of they excess products they're now flooding the market with due to an increase in demand.

Employment will also results from such increase productivity as they will need more hands to work with them.

So it's not what you think. You people are only seeing one thing and blind the benefits of an appreciable increase in minimum wage.

The government"s attention is more focused on stealing what they can before their tenure expires and so don't care to listen how minimum wage can help the economy.

"Make I chop my own Na My turn. No be me go make Nigeria better " That's the mentality of the average Nigerian politician in power.

Modified. When manufacturers produce more it will increase supply to the market, and an increase in supply will definitely results in lower prices in the long run

A Daniel has come to judgment.
Thank you, erudite sir.

membranus:


Mr. Know all, that means you know better than the economic team running the country at the ministerial level who knows it is better to keep the borders close for now. So go on and open the borders for them now.

Also tell me your qualification on International Economics before you start mouthing rubbish on this platform. An ignorant person claiming mastery on what he knows nothing about it.

Alright, Mr know it little.

Good day.

capatainrambo:
The govt have excess money. This was the gave out 800billion for some useless hajj irrelevant to Nigeria. Fleece them of that excess money so they concentrate

Government that subsidy Hajji has no reason not to increase minimum wages,I stand with labour Congress on this,100k or they should not call off the strike.

735i:


Do you ever process your thoughts before you post?
60k minimum wage means people can spend more. Demand will rise... manufacturers will be incentivized to increase supply... translates to more jobs which translates to more taxes for the government.

Companies are shutting down and leaving because cost of production is rising and demand is thinning out

My 8 year old niece knows this!

Stop make posts about things you know absolutely nothing about.

God bless you abundantly!

weMUSTsayIT:


Tell me something.

If you find a job will you die?

You expect a lazy man with baby brain to find job?

400k is unreasonable, but minimum wage should be able to buy a bag of rice and have something left to manage till the end of the month. When bag of rice was 15-17k minimum wage was 30k. Right now that its about 70k, minimum wage should be 100-150k.

Then Govt should look into the things that consumes a workers salary the most; housing, transport and education.

Provide affordable housing for workers on mortgage at 2% interest rate.

Provide affordable transport vis rails, trams. Introduce payment plans for mass transport.

Bring back our Public schools. There should be public schools providing free to affordable education like in days before.

Cut cost in running government (political offices). It should be a service to your country not the other way round. We waste money to please a few when that same money is enough for all to live a good life.

They don’t have money to pay yet they still cannot loan money to build a refinery and repair the previous 4 yet we have money to build coastway to heaven ?
Nigeria is lost

[quote author=TonyeBarcanista post=130283697][/quote]

You submission isn't an intelligent one.

They have money to share during election but they complain of paucity of funds for people to eat and not strave!

Sebi Tinubu said the government saved 1 trillion within only one month when subsidy payment stopped in June That Nigeria will have more money for other things since we no longer pay for fuel subidy
What about the new electricity tariff where you can pay as high as 100k per month if you have constant electricity

A Congo of beans sells for 2,400 naira. A Congo golf garri is 1,700 naira and the FG is offering 60k
Anyway, the drama that will play out in the following days and weeks will shake a lot of the dogs of this wicked government

Let Tinubu collect that 60k for himself and use it to take care of his family.

Angola 🇦🇴 just increased their minimum wage to $120 U.S dollars.
Angola has almost the SAME circumstances with Nigeria. They produce crude oil and their currency has suffered devaluation like ours.This is a country with over 800,000 civil servants, besides the teachers.
A cleaner will get $120 dollars (an equivalent of N160,380). Senior civil servants and medical staff will get about $2,150 (N2,973,475).
Their government ALSO complained. It was THEOR LABOUR UNION'S BRUTAL show of force during the strike that FORCED the government's hand.

helinues:
Toh

My own curiosity is, if some states are still paying the N18k minimum wage claiming they can't afford N30k.

How then do you expect such states to pay anything above N100k?

We are even yet to talk about the private sectors. Would they be able to afford above N100k minimum wage? Even if the minimum wage is pegged around N80k, there would still be lay off.

How about the inflation the ridiculous amount N464k abi na how much NLC would cause?

https://www.nairaland.com/8113134/n70-n80k-realistic-minimum-wage

Mention one state that is still paying 18k as minimum wage