Take a gas retailer or any retailer for instance. The person may sell up to 40kg per day on average and one hundred naira additional per kg will add over one hundred thousand naira per month to the net income of the business and to pay the minimum wage will be easy because it is the business paying and not the business owner. It must be realized that without factoring in wages, prices fluctuates wildly. Gas retail price moved from 650 to 1200. If you can employ then you can certainly pay any wage imposed by the government simply because it is an overhead expense. The business is paying. You are not the one paying. If a living and taxable minimum wage is imposed on the economy, prices will rise a tiny bit will be the response but the economy will be much better off on the overall.

For any government trying to solve poverty, the first step is to impose a minimum wage that can solve the poverty in the economy. It will be easy for anyone to calculate what the minimum wage should be if not for variation in rent from city to city and that is one thing.that also needs to be attended to. Rent should be uniform.for the same quality of housing.

Yeah, every big business can pay.

lawani:
Take a gas retailer or any retailer for instance. The person may sell up to 40kg per day on average and one hundred naira additional per kg will add over one hundred thousand naira per month to the net income of the business and to pay the minimum wage will be easy because it is the business paying and not the business owner. It must be realized that without factoring in wages, prices fluctuates wildly. Gas retail price moved from 650 to 1200. If you can employ then you can certainly pay any wage imposed by the government simply because it is an overhead expense. The business is paying. You are not the one paying. If a living and taxable minimum wage is imposed on the economy, prices will rise a tiny bit will be the response but the economy will be much better off on the overall.

Is it compulsory for you to talk?

So the school owners in remote area like villages could also pay N100k as minimum wage?

helinues:
So the school owners in remote area like villages could also pay N100k as minimum wage?

They will increase their tuition fees a bit and pay. The illustration applies to them as well. If you can not pay do not employ anyone and if you work alone you must be able to pay minimum tax. That is what they do in organized nations

lawani:


They will increase their tuition fees a bit and pay. The illustration applies to them as well. If you can not pay do not employ anyone and if you work alone you must be able to pay minimum tax. That is what they do in organized nations

The village Schools with how many pupils?

helinues:


The village Schools with how many pupils?

Anybody that can't pay should close down

lawani:


Anybody that can't pay should close down

Na why some of you would be worst as ordinary class rep

If you closed the school down, what then do you would happen to the pupils/students?

helinues:


Na why some of you would be worst as ordinary class rep

If you closed the school down, what then do you would happen to the pupils/students?

So you think people should be paid wages that can not enable them to live like human beings in a civilized nation?

If pure water factory pay 250 k as salary to worker, the be ready to buy a sachet of water 1k.

lawani:


So you think people should be paid wages that can not enable them to live like human beings in a civilized nation?

If you paid a bakery worker N100k as minimum wage, how much do you think the price of bread would cost?

helinues:


If you paid a bakery worker N100k as minimum wage, how much do you think the price of bread would cost?

Go and read my original post again since I have already analyzed that using a very small business as an example

helinues:


If you paid a bakery worker N100k as minimum wage, how much do you think the price of bread would cost?

Read the original post again

lawani:

Go and read my original post again since I have already analyzed that using a very small business as an example

I couldn't find it on this thread. May be you are talking about another one.

Post it in your next response here

lawani:


They will increase their tuition fees a bit and pay. The illustration applies to them as well. If you can not pay do not employ anyone and if you work alone you must be able to pay minimum tax. That is what they do in organized nations

what you suggest inflation.

Mynd44:

what you suggest inflation.

Inflation is under the control of the central bank. It happens only when government prints money

lawani:


Inflation is under the control of the central bank. It happens only when government prints money

Lol..
Na SS1 economics u dey read ?

Online economist are too much in Nigeria. That is why you see a man will sink 5 million to decorate a shop and after one year he will close up.