Racoon:
https://guardian.ng/market-realities-peg-ideal-minimum-pay-for-nigerian-workers-at-n104400/ nlfpmod

Hogwash, Hogwash, Hogwash.
Nobody took to the streets, when they removed subsidy since they said it's best for the country and has saved the country some trillions of invincible dollars.
No reasonable person would be taking about MSMEs and using them as excuses.
If they want NLC to seek for good governance then it most likely the immunity clause will have to be removed completely for all serving elected position.

LordIsaac:

More suffering would only make “making the wrong decision” easier. Simple! Since to you electing Obi is equal to prosperity.

Electing obi doesn't mean prosperity

But you cant ve serious and choose atiku or Tinubu over Obi

There are people who would contest I won't even consider obi

DIVINEEVIDENCE:
Imagine labour shutting down the economy to protest against insecurity, epileptic power supply and moribund refineries. Just these three issues addressed by any government is enough to turn around the fortunes of our Economy and give more weight to our currency. But no, they're interested in treating symptoms rather than root causes. They want to go the way of Zimbabwe where millions and billions became so common as to be printed in notes. From ₦18k to ₦30k to ₦65k until minimum wage becomes 1 million Naira. Clowns. 🤡

Labor only protested the minimum wage. So where in the world do you get off asserting they did otherwise? Are you clowning around or something?

Market reality is that government - especially federal government - regulation of wages should be abolished.

Good Luck to Nigeria.

I think balablu and his heartless goons wants to make the civil service unattractive to people.

They want to reserve everything to themselves alone.

They want everyone to go to farm despite not providing adequate security for people.

Herdsmen, bandits and kidnappers are everywhere, these criminals work together with the Nigerian security operatives and they even understand the terrain of our forests more than the locals.

Like someone already stated, the government should reduce the salary packages of government officials by 80%. They are not doing much after all.
The govt. should end the security challenges facing the country once and for all.
The govt. should provide fertilizer and tractors to farmers @ extremely subsidized rate.
The exchange rate should be pegged at nothing more than 700/$.
Fuel and diesel prices should be slashed to 300 and 700 naira respectively.

BigDawsNet:
Algerian Minimum wages. 219,995.31
Egypt Minimum wages 108,795.55
Mozambique minimum wages 134,623.84
Morocco minimum wages 444,286.66


Bet why is Giant of Africa own different

Make dem go Egypt, Algeria or Mozambique.

Add Egypt, Algeria and Mozambique population together, them no reach Nigeria population.

Never compare any African country with Nigeria.

Racoon:
https://guardian.ng/market-realities-peg-ideal-minimum-pay-for-nigerian-workers-at-n104400/ nlfpmod

the only language this useless government will understand is civil war...not all this childs play

DIVINEEVIDENCE:
Imagine labour shutting down the economy to protest against insecurity, epileptic power supply and moribund refineries.

Just these three issues addressed by any government is enough to turn around the fortunes of our Economy and give more weight to our currency.

But no, they're interested in treating symptoms rather than root causes.

They want to go the way of Zimbabwe where millions and billions became so common as to be printed in notes.

From ₦18k to ₦30k to ₦65k until minimum wage becomes 1 million Naira.

Clowns. 🤡

You be witch witch abi enemy of progress?

IbeOkehie:
Market reality is that government regulation of wages should be abolished. Good Luck to Nigeria.

So, your Senators and Reps who decide for themselves what pay package they should give to themselves are on the right track, abi?

jamafa:


Make dem go Egypt, Algeria or Mozambique.

Add Egypt, Algeria and Mozambique population together, them no reach Nigeria population.

Never compare any African country with Nigeria.

What has population got to do with minimum wage?
So it's the USA, UK and the whole of ASIA should be added together and compared to Nigeria.

Kobojunkie:
Labor only protested the minimum wage. So where in the world do you get off asserting they did otherwise? Are you clowning around or something?

Did you even understand my point?

In a robust Economy where 1 dollar equals, say ₦100, ₦30, 000 minimum wage will have weight.

With our refineries working at optimum capacity, with stable power supply and enhanced security enabling large-scale farming, why would the economy not recover from it current slump?

And if the economy recovers and food and food products become cheap, will labour push for upward wage review?

They are simply exacerbating our inflation and its only a matter of time before market forces catch up with the new minimum wage and then they'll come out again to protest for yet another upward wage review.

This is going round in circles.
It is asinine.

Tinubu should just remain in Lagos please.He shouldn't come to Abuja and scatter things again for Nigerians.
#TinuburemaininLagos.

Hmmmmm! Just restructure and devolve power and fiscal control from the central back to state. That's the solution

An average family in Nigeria is 6 members.
let's assume their meal is #500 x6x 3 =#9,000 daily.
30 days is #270,000 monthly.
In reality, it's rare to get a good meal @#500.
What Govt. is offering remains starvation wage and not minimum wage nor living wage.

[quote author=Racoon post=130521664]https://guardian.ng/market-realities-peg-ideal-minimum-pay-for-nigerian-workers-at-n104400/ nlfpmod [/quote

I pity Nigerians if minimum wage should be increased without effort to correct the issues that brought about the Sharp increase in price. The hyperinflation that will follow will be unbearable.

But for us businessmen, we will just increase and keep increasing prices.

Resonance2019:
You be witch witch abi enemy of progress?

When you say something sensible and reasonable I'll reply you.

For now, get off my mentions.

DIVINEEVIDENCE:
■ Did you even understand my point? In a robust Economy where 1 dollar equals, say ₦100, ₦30, 000 minimum wage will have weight. With our refineries working at optimum capacity, with stable power supply and enhanced security enabling large-scale farming, why would the economy not recover from it current slump? And if the economy recovers and food and food products become cheap, will labour push for upward wage review? They are simply exacerbating our inflation and its only a matter of time before market forces catch up with the new minimum wage and then they'll come out again to protest for yet another upward wage review.
This is going round in circles. It is asinine.

Naira 30,000 in today's Nigeria amounts to less than $20, a situation which has continued to remain stable for at least 6 months. The international poverty line is at $2.15 a day, meaning all those in Nigeria earning below Naira 95,000 live under abject poverty(less than $68, the value of Naira30,000 as at December 2020). What you are trying to have me believe here is that having over 160 million Nigerians continue living in extreme poverty states is the way to a better economy, right? Even though those at the top echelons of government have padded their salaries and takehomes to counter the effects of the devaluation of the Naira amongst other issues, you are saying to solve the problem, over 160 million Nigerians most instead continue living under abject poverty conditions for inflation to be resolved, abi?

Kobojunkie:
Naira 30,000 in today's Nigeria amounts to less than $20, and the international poverty line is at $2.15 a day, meaning all those in Nigeria earning below Naira 95,000 live under abject poverty(less than $68, the value of Naira30,000 as at December 2020). What you are trying to have me believe here is that having over 160 million Nigerians continue living in extreme poverty states is the way to a better economy, right? You are saying that is the solution to this inflation problem, is that it?

I am saying, if we influence parameters of inflation such that the Naira is strengthened and the economy take a massive boost, it will automatically uplift those below the poverty line.

If we can deal with inflation and increase our forex earnings, why would our standard of living not increase?

Increasing minimum wage without a corresponding increase in productivity will further impoverish us and weaken our currency.

The ensuing high exchange rate will make it difficult for manufacturers to import raw materials, leading to layoffs, reduction in value and quality of products as well as increase in price of finished products which will take up the new wage increase for the market to attain equilibrium.

In the end, bread of ₦1500 will be sold for ₦2300 and we'll return to square one.

Meanwhile, we've weakened our currency by injecting it into the system without a corresponding increase in productivity.

Like taking alcohol to drown your sorrows.
Eventually you wake up from your hangover and reality stares you in the face again.

You can choose between keeping yourself perpetually inebriated or squaring your shoulders to tackle the problem once and for all.

Racoon:
https://guardian.ng/market-realities-peg-ideal-minimum-pay-for-nigerian-workers-at-n104400/ nlfpmod

imagine earning minimum 125000 monthly in 2019.....to earning 18000 monthly as teacher in 2024...just imagine...TRUE LIFE STORY

They are dragging about minimum wage when the people are suffering.
Why can’t the FG implement the 62k immediately at least while they continue deliberating on the rest before people die of hunger

Market reality is rubbish. 65% of the workers can go and we wont feel the impact. They are just earners and nothing more.

DIVINEEVIDENCE:
■ I am saying, if we influence parameters of inflation such that the Naira is strengthened and the economy take a massive boost, it will automatically uplift those below the poverty line. If we can deal with inflation and increase our forex earnings, why would our standard of living not increase? Increasing minimum wage without a corresponding increase in productivity will further impoverish us and weaken our currency.
■ The ensuing high exchange rate will make it difficult for manufacturers to import raw materials, leading to layoffs, reduction in value and quality of products as well as increase in price of finished products which will take up the new wage increase for the market to attain equilibrium.
■ In the end, bread of ₦1500 will be sold for ₦2300 and we'll return to square one.
■ Meanwhile, we've weakened our currency by injecting it into the system without a corresponding increase in productivity. Like taking alcohol to drown your sorrows. Eventually you wake up from your hangover and reality stares you in the face again. You can choose between keeping yourself perpetually inebriated or squaring your shoulders to tackle the problem once and for all.

Those whom the people depend on to influence parameters of inflation to strengthen the Naira and then the economy, the top echelon in government, have taken to padding their salaries and takehomes to counter the effects of the devaluation of the Naira amongst other issues. But you are saying that the people of Nigeria should not do the same? They should, over 160 million Nigerians, continue living under abject poverty conditions for inflation to be resolved, abi?

2. These are the realities of even today yet minimum wage for workers has not been increased in over 4 years since.

3. Are Nigerians better off today with bread sold for ₦1500, and over 160 million unable able to afford it at this point given that minimum wage remains at ₦30,000, approximately $20 a month?

4. So, it isn't those at the top who deserve to be punished but those at the bottom — over 160 million Nigerians— who should sacrifice, possibly their very lives this time around since this is life and death for many at this point, for your "what if" scenarios there?

RepoMan007:
Market reality is rubbish. 65% of the workers can go and we wont feel the impact. They are just earners and nothing more.

Then fine, start at the very top and let them all go. Nothing wrong with that. It is exactly what needs to take place at this point since the bloated system does not help anyone especially the millions of Nigerians workers out there who are dying to find employment of any kind.

mrvitalis:

Electing obi doesn't mean prosperity

But you cant ve serious and choose atiku or Tinubu over Obi

There are people who would contest I won't even consider obi

I get you now.

True

Kobojunkie:
So, your Senators and Reps who decide for themselves what pay package they should give to themselves are on the right track, abi?

They're elected by the people. If there isn't a single Nigerian that has come out and present themselves as a candidate with a manifesto in support of low pay for public officials, whose fault is that?

Wage regulation of any kind is bad for any economy. It reduces job creation and employment. Labour is a commodity like any other. When you raise the price, employers consume less labour...lower the price and workers will not work. This is simple economic principles. Many prosperous countries like Sweden, Norway, Hong Kong and others don't have regulated wages.

In the USA the Minimum Wage originated as a law to SUPPRESS Black American employment.

https://www.google.com/search?q=miles+algood+quote+on+minimum+wage&rlz=1C1NDCM_enUS837US837&oq=miles+algood+&gs_lcrp=EgZjaHJvbWUqBwgBECEYoAEyCQgAEEUYORifBTIHCAEQIRigATIHCAIQIRigATIHCAMQIRigATIHCAQQIRirAjIHCAUQIRirAjIHCAYQIRirAtIBCDY0NzFqMWo0qAIAsAIB&sourceid=chrome&ie=UTF-8

Since Nigerians love this law so much, how about this - let's remove it from the Federal List and make it a State matter. So there can be competition...same thing for airports, most taxes, universities and many other things.

Let's all get educated about economics. Without such enlightenment, this country will continue to suffer.

Good Luck to Nigeria.

IbeOkehie:
■ They're elected by the people. If there isn't a single Nigerian that has come out and present themselves as a candidate with a manifesto in support of low pay for public officials, whose fault is that?
■ Wage regulation of any kind is bad for any economy. It reduces job creation and employment. Labour is a commodity like any other. When you raise the price, employers consume less labour...lower the price and workers will not work. This is simple economic principles. Many prosperous countries like Sweden, Norway, Hong Kong and others don't have regulated wages.
....
■ Since Nigerians love this law so much, how about this - let's remove it from the Federal List and let it be a State matter . So there can be competition...same thing for airports, most taxes, universities and many other things. Let's all get educated about economics. Without such enlightenment, this country will continue to suffer. Good Luck to Nigeria.

1. So, it is OK for the people at the top to cut themselves large checks but not ok for the people at the bottom to do the same?

2. Wage regulation of any kind is bad yet many of the most prosperous economies have wage regulation laws that date back at least 50 years. Interesting!

3. Why should Nigerians do that when having it at the federal level has not discouraged competition at any level?

BigDawsNet:
Algerian Minimum wages. 219,995.31
Egypt Minimum wages 108,795.55
Mozambique minimum wages 134,623.84
Morocco minimum wages 444,286.66


Bet why is Giant of Africa own different

They are evil

Kobojunkie:
1. So, it is OK for the people at the top to cut themselves large checks but not ok for the people at the bottom to do the same?

2. Wage regulation of any kind is bad yet many of the most prosperous economies have wage regulation laws that date back at least 50 years. Interesting!

3. Why should Nigerians do that when having it at the federal level has not discouraged competition at any level?

All three points don't make sense, but (2) is egregiously wrong, at least I never wrote that.

My point is that many prosperous economies DO NOT have minimum wage laws.

As for competition, the Federal Government can't compete against itself, which is why the matter is best left to the States. If Lagos can afford high wages, Zamfara might not and thus has to pay less. Why make it ILLEGAL for Zamfara to live within its means?

BigDawsNet:
Algerian Minimum wages. 219,995.31
Egypt Minimum wages 108,795.55
Mozambique minimum wages 134,623.84
Morocco minimum wages 444,286.66
Bet why is Giant of Africa own different

If the Giant of Africa wants to shed its title as Poverty Capital of the World, it should emulate countries like Sweden, Denmark and Norway.

Good Luck to Nigeria.

IbeOkehie:
■ All three points don't make sense, but (2) is egregiously wrong, at least I never wrote that. My point is that many prosperous economies DO NOT have minimum wage laws.
■ As for competition, the Federal Government can't compete against itself, which is why the matter is best left to the States.
■If Lagos can afford high wages, Zamfara might not and thus has to pay less. Why make it ILLEGAL for Zamfara to live within its means?
■ If the Giant of Africa wants to shed its title as the Poverty Capital of the World, it should emulate countries like Sweden, Denmark and Norway. Good Luck to Nigeria.

1. Many prosperous economies equally have minimum wage laws. Economies can function well with or without. This means that your claim that minimum wage is bad for the economy is wrong.

2. The Federal Government does not need to compete against itself as instead, the private sector is there for that.

3. Earlier, I had pointed out that the current international poverty line is $2.15 a day meaning a worker ought to receive at least $2.15 a day to exist at least above extreme poverty.

When a company or business is unable to pay its workers a decent wage, why do you reason that in response it would make sense for the government to abolish a system that causes other companies to pay workers a decent wage to resolve this problem? When a company proves it is non-viable, remaining instead on life support from other sister companies, what do you think is the right thing to do after some time? Do you continue to prop the company up or dissolve/merge it completely with other more viable companies in the same area?

Zamfara is one of the states in the union that has more than proven it is going nowhere fast, a non-viable state in Nigeria. It depends on handouts from the federal government to pay its workers even the amount it pays today. So why would you reason it makes sense to change the minimum wage laws so the state can continue in the non-viable state it has existed in for the longest?

4. How can it emulate countries whose structures and systems bear no resemblance to any of what it has at this point? Shouldn't it first resolve its problems by emulating those with systems and structures in place similar to what it already has before it then tries to go for that even greater than that?