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Nairaland Forum / Nairaland / General / Politics / FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden (14056 Views)
Labour Submits N615,000 Minimum Wage Demand In Fresh Proposal / Tinubu Approves ₦35,000 Wage Award To Civil Servants / Weighing The Socio-Economic Burden Of Maintaining Third Mainland Bridge (2) (3) (4)
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Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Suunnn(f): 12:36am On Jun 02 |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by bluepanther(m): 2:11am On Jun 02 |
Ggg |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Kanixt(m): 4:04am On Jun 02 |
helinues:How much is serious for once? 2 Likes 1 Share |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by owolabi5: 5:43am On Jun 02 |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by jeromestarks: 5:44am On Jun 02 |
Labour should take the 60k naa. What's wrong with this Joe Ajaero sef? It's like we need a labour president with big head. This Ajaero small head can not process things very well. 2 Likes |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by fintechx: 5:44am On Jun 02 |
Indian Airlines Flight IC814 - The Plane That Landed 5 Days After Takeoff https://www.youtube.com/watch?v=YJwkN6eXirU |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Straybullet: 5:48am On Jun 02 |
helinues: I have to agree with you for once. Labour is taking this like comedy. Joe anaerobic is a disappointment 3 Likes |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Babangidapikin: 5:54am On Jun 02 |
I thought labor had come down to 100k and the dragging is between 70 and 100k ..agree the exchange rate is messed up, but Crude oil prices might crash . 495k would just worsen a bad situation. Holding money that's of no value. Labor should ask for 24/7 electricity because is you pay 495k sef and most of the citizens are still idle we would still be back to square one . . Selling goods in the market is not productive, just part of a value chain ...we really need to be a productive economy, process industry, services, agriculture , tech and even all this Messer Dangote and Hi-Tech if they're truly Nigeria companies should be sent to other countries especially Africa to start construction of roads there, say DRC. |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by BeeNG3: 5:57am On Jun 02 |
You are talking rubbish! Rubbish rubbish nonsense talk. You are no ot making any sense. Labour must go on indefinite strike. Rubbish analysis. When it's ur turn no analysis o, national assembly no analysis, now salary reach story begin. Just sit down and let your boss talk abeg. |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by malali: 6:00am On Jun 02 |
The Federal Government's dismissal of the organised labour's demand for a national minimum wage of N494,000 as economically unsustainable and potentially destabilizing lacks depth and fails to address the root causes of the wage issue. While it is important to consider the fiscal constraints and economic realities, the government's stance appears overly simplistic and does not account for the severe economic hardships faced by Nigerian workers. Economic Realities for Workers The proposed N494,000 minimum wage might seem exorbitant, but it reflects the harsh economic conditions in Nigeria. With inflation rates soaring and the cost of living rising sharply, the current minimum wage is grossly inadequate. According to the World Bank, Nigeria's inflation reached 22% in 2023, severely diminishing the purchasing power of ordinary citizens (Fitch Solutions). The current wage offer of N60,000, a 100% increase from the 2019 rate, still falls short of meeting basic living expenses for Nigerian workers, particularly in urban areas where costs are higher. Government Spending and Mismanagement The government's claim that the proposed wage increase would result in an unsustainable N9.5 trillion annual expenditure highlights broader issues of fiscal mismanagement and misplaced priorities. Nigeria’s budget has historically been plagued by corruption and inefficiencies. According to Transparency International, Nigeria ranked 150 out of 180 countries on the Corruption Perceptions Index in 2023 (Fitch Solutions). Significant amounts of public funds are lost to corruption, which could otherwise be redirected towards supporting a fairer wage system. Socioeconomic Impact Ignoring the wage demands of the labour unions could have dire social consequences. Persistent low wages contribute to widespread poverty and social unrest. The International Labour Organization (ILO) emphasizes that fair wages are crucial for economic stability and social peace (World Bank). A failure to address these demands could lead to prolonged strikes, disrupting economic activities and exacerbating social tensions. Alternative Solutions Instead of outright rejection, the government should explore alternative solutions, such as gradual wage increases, enhanced revenue generation, and cutting unnecessary government expenditures. Structural reforms aimed at reducing corruption and improving public sector efficiency could free up resources to support higher wages without destabilizing the economy. Additionally, dialogue with labour unions to find a middle ground that balances fiscal sustainability with workers' welfare is essential. Conclusion The government's rigid stance on the minimum wage issue reflects a lack of understanding and empathy towards the struggles of Nigerian workers. Sustainable economic policies should prioritize fair wages that reflect the cost of living and support the dignity of work. Addressing corruption, improving public sector efficiency, and engaging in meaningful negotiations with labour unions are critical steps towards achieving a more equitable and stable economic environment. 1 Like
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Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Rhema04(m): 6:01am On Jun 02 |
helinues: Those ones will just take little more adjustment to their current salary |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by dollar124(m): 6:08am On Jun 02 |
Chicagograduate: I swear you sound like a big fool. Which lawmakers are earning 30m monthly? And additional sitting allowance? I wonder who is brainwashing you with such figures 2 Likes |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by tosyne2much(m): 6:08am On Jun 02 |
Ofunaofu:The FG has already said the economically sustainable minimum wage nah which is 60k |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Fiscus105(m): 6:10am On Jun 02 |
Chibuezem: Even 75k and after that, the political and appointees money should cut down significantly, thr would be enough money for Nigeria as a country. As it's now, Tinubu giving more than enough for people in govt while starving the masses. 1 Like |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by HellVictorinho6(m): 6:17am On Jun 02 |
Babangidapikin: Both u and labor are capping dust The goods they sell in market Are all of them imported? What about the services that private school teachers provide? U guys just choose 2 share the murny in the national treasury among yasef then u dey cap shit Labor are selfish bast@rds too 1 Like |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Ofunaofu: 6:18am On Jun 02 |
tosyne2much: 60k na for only transportation to work Feeding, clothing, hospital bill, utilities etc no follow there |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Riskymarvelous(m): 6:20am On Jun 02 |
And they bought #165m cars for all NASS members why? 2 Likes |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Promax4321: 6:24am On Jun 02 |
NLC as been lead by Ajaero is an arm of IPOBI. They refused to take effect of such outrageous increase would cause the market. The NGN would become tissue paper having lost it value as goods and services would react to such changes. The NLC job can be done through contracting to Nigerian. They will work 24/7 and improve what happen now. They come to work only 2 to 3 days a week, sir at news paper stand from 9 am to 1500 hrs and close each of the 2 to 3 days and are asking for 464,000 NGN per month. They are not interested in improving the country but destroying it. Their lost at election is biting them hard, had Obi won would they be behaving like this. Definitely no, their intent is to destroy the nation under Tinubu administration. 2 Likes |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Babastrong(m): 6:26am On Jun 02 |
[quote author=Ofunaofu post=130259460]If paying 494,000 as the minimum wage is economically unsustainable, the federal government should tell Nigerians how much minimum wage is economically sustainable. [can't you read ] |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Promax4321: 6:27am On Jun 02 |
NLC as been lead by Ajaero is an arm of IPOBI. They refused to take effect of such outrageous increase would cause the market. The NGN would become tissue paper having lost it value as goods and services would react to such changes. The NLC job can be done through contracting to Nigerian. They will work 24/7 and improve what happen now. They come to work only 2 to 3 days a week, sir at news paper stand from 9 am to 1500 hrs and close each of the 2 to 3 days and are asking for 464,000 NGN per month. They are not interested in improving the country but destroying it. Their lost at election is biting them hard, had Obi won would they be behaving like this. Definitely not, their intent is to destroy the nation under Tinubu administration. |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Ofunaofu: 6:30am On Jun 02 |
[quote author=Babastrong post=130262880][/quote] Babastrong, what is there to read Because the last time I checked, the 60k they are offering cannot buy a bag of rice so invariably it's not economically sustainable to pay a worker 60k minimum wage in today's Nigeria 1 Like |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Babangidapikin: 6:34am On Jun 02 |
HellVictorinho6:I said selling goods is just part of the value chain not productivity, I am emphasizing this because I know 20% of people that claim to be working are selling in the market and you wonder why things are nosediving ..I did emphasis we should focus on the service sector too. |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by kellyzaf(m): 6:39am On Jun 02 |
Whalis: Genius spotted. You are dam right here. That is the best way to go about it bro. 1 Like |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Inosky: 6:39am On Jun 02 |
Cut down humongous government expenditures and reduce cost of governance, then, support private sector and you will see private sectors will pay something higher that 100k minimum wage to its least workers. They have even increased their workers' salary since last year and continued to increase it. Only Govt. has not increased salary. Aside, some states adding 5k, 10k and other meagre amounts to their workers salary and later stopping, nothing serious has been done to show concerns but they keep looting and enjoying state's wealth with their cronies and family. Tinupooo dey ment. 3 Likes |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by freemanq(m): 6:40am On Jun 02 |
Same old story, FG kindly take good care of your workers country hard |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by ObaaOfYorubaLan: 6:47am On Jun 02 |
Ofunaofu: ThieffNubu na illiterate naw, wetin him know |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Babastrong(m): 6:48am On Jun 02 |
[quote author=Ofunaofu post=130262903] Babastrong, what is there to read Because the last time I checked, the 60k they are offering cannot buy a bag of rice so invariably it's not economically sustainable to pay a worker 60k minimum wage in today's Nigeria [i just reminded you that the question you asked has already been answered in the report.] |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by HellVictorinho6(m): 6:48am On Jun 02 |
Babangidapikin: Ur understanding of economics is very poor! They are selling and thatz productive and they are working! Ur senators are the useless ones Ur governors ,the labor congress,ministers,deputy gov,commissioners ,presidency , armed forces and criminals outside government They av 2 be stopped from wasting the efforts of those selling the useful/not fake sugar,rice,beans,etc Not the fake chargers or bread with stones But the decent puff puff i buy sumtimes too The efforts of private teachers has 2 stop being wasted Can u help me with 5k? My efforts av been wasted too 1 Like |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Ofunaofu: 6:49am On Jun 02 |
[quote author=Babastrong post=130263065][/quote] And what was the answer? Kindly put me in the know. |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Enemyofpeace: 6:50am On Jun 02 |
No retreat no surrender. If seun can pay his staff 500k per month, I wonder why the Nigerian government cannot afford to pay Nigerian workers same |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by ivandragon: 6:54am On Jun 02 |
1. Categorise wages according to business turnover. 2. Peg customs duty to N500 to $1 for the next 2 years. 3. All elected and appointed political government officials should earn minimum wage. The National Assembly members should earn minimum wage applicable to thier states. 4. Governments must buy locally assembled vehicles. 5. Get drones and use it to tackle insecurity so people can farm in peace. 6. Ensure tax accountability by tieing income to assets and taxes. 2 Likes |
Re: FG Rejects ₦494,000 Wage Demand, Warns Of ₦9.5 Trillion Economic Burden by Jokerman(m): 7:02am On Jun 02 |
seunmsg: Then let govt raise it to 100K, why benchmark at 60k? |
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