Success1930:
How to calculate the new minimum wage

E.g If you're receiving N60k

To calculate the new salary based on the new minimum wage increase:

1. Find the percentage increase in the minimum wage:
(New minimum wage - Old minimum wage) / Old minimum wage = (N70,000 - N30,000) / N30,000 = 133.33% (or 1.3333 as a decimal)

2. Apply the percentage increase to your current salary:
Current salary x Percentage increase = N60,000 x 1.3333 = N80,000

Since your current salary (N60,000) is higher than the old minimum wage (N30,000), your new salary will be higher than the new minimum wage (N70,000). Therefore, your new salary would be N80,000.

However, if your current salary was below the old minimum wage, your new salary would be the new minimum wage (N70,000).

It doesn't work that way sir, be patient the govt will soon tell u the consequential adjustments based on GRADE LEVEL

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Success1930:


Smile.... As a Mathematician....God no go shame us

Amen sir 🙏

Success1930:
How to calculate the new minimum wage

E.g If you're receiving N60k

To calculate the new salary based on the new minimum wage increase:

1. Find the percentage increase in the minimum wage:
(New minimum wage - Old minimum wage) / Old minimum wage = (N70,000 - N30,000) / N30,000 = 133.33% (or 1.3333 as a decimal)

2. Apply the percentage increase to your current salary:
Current salary x Percentage increase = N60,000 x 1.3333 = N80,000

Since your current salary (N60,000) is higher than the old minimum wage (N30,000), your new salary will be higher than the new minimum wage (N70,000). Therefore, your new salary would be N80,000.

However, if your current salary was below the old minimum wage, your new salary would be the new minimum wage (N70,000).

Consequential adjustment would determing the percentage increase each salary scale and it's corresponding GL would get. Like me, I'm on Contediss GL11, I know sey my increase no go pass 35% if e even reach. Last MW increase, it was as low as 16% for GL10 upwards on some salary scales. May God help us in this tinubuconomy. MW increase benefits those on lower cadre more than those high up.

Success1930:


Smile.... As a Mathematician...In the real sense,
this is how it supposed to be calculated...But, it will be calculated according to levels , grades and current salary.

We will see the adjustment soon. It will favour those workers receiving small salary more. God no go shame us

That formula has a shortcoming because if
New salary= old salary*1.33
And u were earning 52632 on lelev 6, your new salary will be 52632*1.33=70000.
So na u and the least worker in ur office go de collect the same salary now

So, does anyone have any idea when the new minimum wage will take effect??

Skye123:
So, does anyone have any idea when the new minimum wage will take effect??

Nop. The bill has to be transmitted to the NA, debated and signed into law. May be supplementary budget has to follow and cash backing definitely have to be secured, before implementation would follow.

.

Nadingo:
Hah!! My sincere apologies to all those who predicted less than N100k, whom I called names on this thread. I recall someone predicted N70k in here, and I called him 'a slave in love with his chains.' Abeg no vex sir/ma. Tinubu and APC have humbled me. My sincere apologies to all who may have been offended by my earlier utterances regarding this MW matter. Forgive me.

lol, we all know how these things are run. Thanks, you apologise for calling us yan hassada.

Nadingo:
Consequential adjustment would determing the percentage increase each salary scale and it's corresponding GL would get. Like me, I'm on Contediss GL11, I know sey my increase no go pass 35% if e even reach. Last MW increase, it was as low as 16% for GL10 upwards on some salary scales. May God help us in this tinubuconomy. MW increase benefits those on lower cadre more than those high up.

From Level 8 should not expect much. it may be just within 20 to 40% increment unlike minimum wage which is about 130% increment.

Please i have 2 questions to ask about this minimum wage saga.. 1. Please are they paying the minimum wage for this month salary or its starting next month?
2. Are NYSC members included already in the minimum wage?

experts in the room should assist pls

House house...My brother applied for Lagos State Neighbourhood Safety Agency, i dont no if anyone can help him push him. I dont know their boss ... They are calling them for documentation

DrManHattan1:
Please i have 2 questions to ask about this minimum wage saga.. 1. Please are they paying the minimum wage for this month salary or its starting next month?
2. Are NYSC members included already in the minimum wage?

experts in the room should assist pls

Not yet. Till national assembly is through with the bill and also supplementary budget to back it up.

DrManHattan1:
Please i have 2 questions to ask about this minimum wage saga.. 1. Please are they paying the minimum wage for this month salary or its starting next month?
2. Are NYSC members included already in the minimum wage?

experts in the room should assist pls

after NA do their own side of the job and Mr president signs it. Only corps members in service during this period will benefit.. Let's assume by September or latest October

bowen2018:
after NA do their own side of the job and Mr president signs it. Only corps members in service during this period will benefit.. Let's assume by September or latest October

omo so e go reach sept nawa o

kkkp:
From Level 8 should not expect much. it may be just within 20 to 40% increment unlike minimum wage which is about 130% increment.

will peculiar allowance be scrape?