talented321:
drivers, gatemen and banker's work is another slavery, especially bankers.

The bankers recruited by the banking schools is not slavery to me. They are paid well (200k+). I get that type of job and I am quitting in 10 years to do Uber work or farming having secured a fat nest egg.

And if you retire rich , efcc and others will come for you and you will be guilty of their charges. 🥴🥴

Wodu89:



True my brother. This is one of life's truests statement. If we don't have poor people, we won't have work force for productivity

So how come some countries don't have poor working people. Nobody working there is poor. EVERYBODY is paid above poverty and retirement pension is above poverty and tied to inflation. The only near poor are those who can't or won't work.

Major7:






I pray for you from the bottom of my heart as the spirit is leading me to, heaven will be open concerning you and God will shower his blessings upon you and your family, Amen. Please try to invest in a. Biz towards the future no matter how little it is,I pray God leads you. Peace

Amen, I appreciate greatly.

EJIOGBENIMI:

I pray that God Almighty grants you financial breakthrough.

Amen, thanks so much, I'm super grateful.

sacajawea:


Which ministry or parastatal? Is it State or Federal

Federal, ministry of mines and steel dev.

Vision101:
The regularity of their income encourage them to be too comfortable. When they are in need they apply for loan.

Lack and uncertainty of your income will force you to think outside the box. You will plan and manage very well any income that comes your way.

You are 100% correct.
When you don't have a steady source of income, your survival instinct kicks off and on the long run makes you a better planner and financially more discipline

They place their hope on PENSION.
They do not make provision for inflation. Big money 20 years ago is barely above poverty line today.

Firstly 98% of the world (civil servants & Businessmen) are poor due to lack of financial knowledge, its not exclusive of civil servants.
But the reason majirity of civil servants are poor is because of some factors namely:
*Lack of good financial knowledge
*Non Implementation of Appropriate salary scale by employers.
*Ostentatious livestyles
*Lack of proper family planning.

These will need alot of time to explain but in summary if you must be an employee, get an employer that abides by the rules of job engagements(world charter standard),do yourself a favor by getting investments i.e rental assets,stocks,gold etc and also live well within your current means and lastly nogo born football team on an employee salary.
Goodluck.

Firstly 98% of the world (civil servants & Businessmen) are poor due to lack of financial AAknowledge, its not exclusive of civil servants.
But the reason majirity of civil servants are poor is because of some factors namely:
*Lack of good financial knowledge
*Non Implementation of Appropriate salary scale by employers.
*Ostentatious livestyles
*Lack of proper family planning.

These will need alot of time to explain but in summary if you must be an employee, get an employer that abides by the rules of job engagements(world charter standard),do yourself a favor by getting investments i.e rental assets,stocks,gold etc and also live well within your current means and lastly nogo born football team on an employee salary.
Goodluck.

You must be a Top-G fan

Wodu89:



Here's the answer. It's called a matrix. And it's designed to keep victims in a complex, perpetual, cyclical maze that they never get out of till death

Even if a worker lives below their means and invests diligently in Nigeria over the long term, there's still a high probability they will not accumulate enough for retirement. I define a poor retirement as a significant reduction in living standards after the end of regular, full time work. It considers not just financial standing but health status, security, peace of mind and availability of public & private infrastructure that promote overall wellbeing.

Reasons are many and most of us know it, that the Nigerian political-economy is STRUCTURALLY unsound and thus tends to produce poverty, corruption and violence for EVERYONE, whether working or retired.

The main aspect of that structure manifests in the SOCIALIST basis of the economy, which derives legitimacy from the evolved and popular SOCIALIST culture of the Nigerian populace.

It has been proven by extensive and rigorous research that the likely precursor factors of a prosperous economy are capitalist free markets, demographic homogeneity and democracy. It's unfortunate that NONE of these are present in Nigeria.

Until Nigeria changes it's tendency to SOCIALISM, the economy will always produce poverty for the vast majority of the people whether they're workers, business owners or retirees.

Socialism seems morally right and thus is popular among human beings while free market capitalism seems wicked and selfish and thus is unpopular. The irony is that socialism produces poverty while free market capitalism produces prosperity.

Scandinavian nations generally have the highest standards of living in the world. Many people mistakenly think they're SOCIALIST countries, when they're actually FREE MARKET CAPITALIST nations. The Prime Minister of Denmark had to explicitly explain this. A Scandinavian nation like Sweden has more of a CAPITALIST FREE MARKET ECONOMY than the USA.

Watch here:


https://www.youtube.com/watch?v=jq3vVbdgMuQ&pp=ygUiV0hBVCBBTUVSSUNBIENBTiBMRUFSTiBGUk9NIFNXRURFTg%3D%3D

Systems matter. Ideology and culture are crucial. Free market capitalism, homogeneity and democracy. That's what Nigeria needs to implement and within two generations it will become prosperous beyond what anyone thinks is possible today for both retired and working people and their families.

Thanks.

Oizee:
Federal, ministry of mines and steel dev.

Toor
Ẹku gbadun

.

Nice2023:
Why do most govt employees end up retiring very poor and wretched.

What might have caused it?

They did not actually work while they were in office so, its more like they were getting paid for doing nothing. And you know getting free money makes one lazy. They thought the money will keep on coming until it did not.

mastermaestro:
Most of you are shouting 'poor planning' , 'they are lazy' , depending on 'single income' and other nonsensical insults. Is this the same reason why more than 70% of Nigerians are also poor? Those of you shouting private business up and and down, how many private business owners are doing well? How many privately employed Nigerians live above poverty?

The real issues here are poor pay, delayed gratuity, irregular pension, skyrocketing inflation, nonexistent public health scheme, lack of welfare support for children and the elderly. All of these are traceable to bad governance.

People doing fraud and be screaming side hustle. Nonsense!

I truly appreciate your comment, I will merely add that Nigerians have CHOSEN to maintain this SOCIALIST system of governance.

Thank you.

Wodu89:



Here's the answer. It's called a matrix. And it's designed to keep victims in a complex, perpetual, cyclical maze that they never get out of till death

Sad but true

Hamachi:
HmmmmmmSad truth😥😥😥😥😥 This real-life story of Uncle Owusu, after living in the UK for 38 years and at the age of 71, Uncle Owusu finally relocated to Ghana this year—to live in his 6-bedroom mansion which took him 9 years to complete.

Apparently, now in Ghana and in his mansion, Uncle Owusu lives in the living room of the house while his caretaker lives upstairs in his huge master bedroom. This is because Uncle Owusu cannot climb the stairs without the help of another person. Even with help, it will take him 15 minutes to make the climb.

As such, Uncle Owusu has decided to stay downstairs of his mansion (in the living room) as all 6 bedrooms are upstairs. The house has a living room, toilet, and kitchen downstairs and 3 rooms on the first floor, and another 3 (including the master bedroom) on the second/last floor.

This is surely not how Uncle Owusu anticipated his retirement. But that is the reality of his journey. This will be the life of many other Africans living abroad—building mansions back home without caring about their old age.

In fact, if you are building a dream house for yourself to live in and by 50 years that house is not done, forget it.

Uncle Owusu almost wasted 38 years of his life doing menial jobs abroad hoping to go and retire back home in his mansion and enjoy life. Now, he has no life to enjoy and someone is really enjoying the mansion.

Like most aged persons, Uncle Owusu is not even able to enjoy a bottle of malt at his age—because that will shoot up his sugar level. Yet, he said he was working hard all his life to enjoy his best life which included eating and drinking the finest when he retires.

Now, he is only able to eat salads—and even that, without dressing. He cannot even chew any of the fine meat out there without his cholesterol sending warning signs.

How is this life and the great retirement? Yet, this will be the life of more than half of us.

The solution is to take mini-retirements now and enjoy your life and luxury now.

Life starts when you start.

Join www.above50football.com today

I love this.

I no dey for all those yeye hustle hustle to enjoy my old age.
Abeg, there is nothing bad in enjoying my present age too.
Now is the time I can drink a lot of sugary things, has strength to bang a young lady 3/4 times, dress well and look handsome in it not looking hargard with wrinkled face etc

Who knows, if we will still be here in w0 years time sef

Good morning and thanks for this topic. The answers are
1. Government created
2. Individual
3. Societal created problem
Government is the number one creator of this problem for their employees because of lack of jobs , underpayment , failure to provide basic amenities, obnoxious law(that civil servant cannot do any other business except agricultural related), insecurity, just to mention but a few . SOLUTIONS: Government should provide more employment for other dependents of, payment workers well. Provide good roads , electricity, affordable housing program for civil servants once you employed and confirmed you are given a car which can be subsidized and deducted from your salary fractionally, then as soon a civil servant is married they will be given an affordable house with structured paymrent plan .
Make the public schools to provide free and quality education. Allow and help government workers set up businesses like poultry, fishery, pure and bottled water factories, mini mart, barbing saloon they can be supervising after close of work and weekend these will make to stay healthy physically, mentally and financially..it will also reduces corruption.
Individual habits should be cut down most government workers chew more than they can bit spend extravagantly on cars, drinks and extra marital affairs.
SOLUTIONS: Go for moderate cars , join cooperative society in your organization, limit your drinking habits especially with friends and make it an occasional thing, Go into agricultural businesses since that is the only thing government allow for now. Be a family man reduce or stop extra marital affairs. Shop at the open market as civil servant do not show off "cut your coat according to your materials " stop running rat race. Just to mention a few points here.

Societal created problems such as family pressure from dependents, wickedness, insecurity, bad behaviour in work places and homes.
SOLUTIONS: Do not succumb to unnecessary family pressure, invest wisely, be focused and plan for tomorrow. There are too many challenges that makes civil servant poor on retirement. Every civil servant is expected to train their child from 0 year to about 30year so if you have 4children that means you are training them for 120years which you may not live up to . This will make you poorer in retirement.
My humble submission. Thanks

Government employees are there to serve the people.

Wodu89:



Why are professors poor then ?

The current wages as presently constituted across board are outdated, obsolete, long expired and uselessly, pathetically, hopelessly poor by every standard.

Ideally, Professor & poor should never be in the same sentence.

Although it is in the real sector that things happen, action take place, this is where wealth is created.

It is after this wealth has been created that they are supposed to start talking about Tertiary institutions trained professional like auditors, accountants, economists, engineers, lawyers and so on...to manage and maintain the wealth.

Prettychild:
Most of them don’t plan or have investments, they just depend on the salary they get to eat and feed their children

the truth is how do you plan on money that disappeared immediately you receive it? How come it's possible to work outside the country and in 3to 5 yrs most are already sending money home to build houses but a government worker here in ngn will still be finding his feet. I think our salary arrangement is poor tbh.

SpaceAngel:
The answer is open secret. Salary and pension is poor. Many decide to do unholy things to upgrade. Check the minimum wage I don't know if it's 18 or 30k, whichever , how does one survive on that with family? The person may be on same for years and expected to do 9 to 5. Even the ones on the higher echelon are not any better. I almost jumped out of my skin, when I heard how much a police inspector earns. I don't think they are legally allowed to own businesses while working maybe it's ok for them to do so now.

I think should be something above 150k after about 18yrs or 20yrs in service and not allowed to run a biz works overtime most of these jobs are slavery abeg

Sir wat is the difference between ministry nd parastatal?

sacajawea:


Which ministry or parastatal? Is it State or Federal

Sir, wat is the difference btw civil servant nd public servant. I want to learn

PARADIZEPRIEST:
Millions of Civil servants who do the jobs retire poor ,while, few thousand of public servant who do nothing but SAY I AND NEH GO HOME RICH WITH LOOTS.
Is serious irony in black man country
IT HAS NOTHIN TO DO WITH INTELLUGENCE,IS ALL ABOUT WICKED HEARTS OF SOME GREEDY BLACK MAN NOT ALLOWING SYSTEM TO WORK FOR ALL'S EQUITY AND JUSTICE

Is the state jobs not paying well? Just asking

yemi1504:


The Federal ones are paid well but as getting the job is through expensive slots, not everyone will be lucky.

Pls wat is the meaning of gratuity, arrears, allownces, in the civil service line?

Why do people prefer federal jobs to state jobs. Are they not the same govt work?

Pls i want to learn

Love800:
Is the state jobs not paying well? Just asking

They don't. Barely above minimum wage.

Tank u. So u saying no state pays salary of 100k?

yemi1504:


They don't. Barely above minimum wage.

Love800:
Tank u. So u saying no state pays salary of 100k?

You know the answer to that yourself especially for starting salary. Maybe later sha.

Love800:
Tank u. So u saying no state pays salary of 100k?

State government employees are very poorly paid - every adult in Nigeria should know that by now. The little salary they get is not even paid regularly, they go for months at a time without getting paid. This has been the case since I was a child. They barely get any retirement payments or gratuity. Any state government employee below the very highest ranks earns little and even those at the top subsist on massive corruption.

There was a time that retired military officers were not getting their pensions at all. It was a huge scandal in all the newspapers, I don't know if things have changed, but I know a full Army Colonel who wasn't getting his pension.

The credible data is that 0.4% of Nigerian workers earn over ₦‎200K per month. I know this from first hand experience.

CEO of Dangote Cement earns $600K per year.
https://www.thisdaylive.com/index.php/2022/07/17/highest-paid-ceos-in-nigeria-in-2021

A federal minister earns about ₦‎1million take home, that's net total pay.
https://www.thecable.ng/my-salary-is-n942000-monthly-i-dont-get-allowance-says-ngige

Nigeria is a poor country. Nigerians are generally very poor, even those you think are rich, most of them are poor. The UN has ranked Nigeria as the Poverty Capital of the World. Once you operate a business in Nigeria you will know all these things are true, they make sense.

Good Luck to Nigeria.

I dont know. Am just curious to learn.

Am still a young lad. Anyway, thankz for ur input

yemi1504:


You know the answer to that yourself especially for starting salary. Maybe later sha.