Each time Nigeria government increase minimum wage, inflation rate goes up. The increase in inflation rate literally erode whatever gains the promoters of minimum wage had intended to solve.

Let's take for instance when minimum was was increased to N18,000 in 2011, inflation increased to 10.83 percent. Similarly, when it was increased in 2018 to N30,000, inflation rate increased to 12.1% (it was more unofficially). The only time inflation rate did not increase with increase in minimum wage was in 2000 when minimum wage was increased to N5,000, this was due to the high productivity in Nigeria, notably the telecom boom and banking sectors.

At present Nigeria's minimum wage is N30,000, yet many states and organisations are unable to meet these wage demands. Our inflation rate is astronomically high (hyperinflation), which can be attributed to Nigeria's low economic production level. Any significant increment in minimum wage could be be devastating to everyone. Perhaps N50,000 - N65,000 as minimum wage wouldn't be that bad, but even at this rate, how many State government, organisation or private employers can meet this? How many employers are faithful to N30,000 minimum wage?

Rather than fight for more money that would turnout useless to workers and every other person, the organized labour should fight against anti-people policies of the President Bola Tinubu led APC administration that have crippled the economy and killed productivity. They should fight against greed of public servants, mismanagement of our resources by those in authority and seek improvement in our economy so as to make our little have significant value.

Let's be reasonable. I rest my case!

- Tonye Barcanista

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

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

TonyeBarcanista:

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

helinues:


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

helinues:


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

TonyeBarcanista:

You mean SIP that doesn't reach the population? It won't do anything to cushion the effect of 60k minimum wage my brother.

helinues:


Speaking of something like students loans

Business empowerment

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

helinues:


Speaking of something like students loans

Business empowerment

TonyeBarcanista:

How many people have access to Business empowerment either loan or grant? Even the Student loan looks K-leg

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

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

AqualinaXYZ:



Real Lagos owners say they no want them and una to stay in one South West




You’re crying the wrong cry




Leave minimum wage alone moreover you’re jobless and cry the real eviction cry from owners of Lagos

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