rottennaija:


Govt can't bring down prices of goods if they country do not produce enough. And even when they do, prices will always be high unless it's easy to transport them from one location to another.

So you need to produce enough and you need good transportation. Roads transportation are not enough for goods to be low. You need rails way, it's cheaper, faster and saves time.

The point is, govt can't just make decrees or laws to force price down, th market does it. The only thing govt can do it create an environment for local production, discourages importation and most importantly, infrastructure, railways

I believe he was being sarcastic.

Gerrard59:


Euphemism for "I failed high school economics".

Hehehe hahaha useless high school certificate you got there. Buhari failed all.

Well.said, thank you

Luminary1:


What is the meaning of this nonsense! It's has now gotten to a point where it's anti-democratic for workers to demand for a pay raise above the meagre salary they collect that can't even feed them for a month let alone Cater for other needs, but patriotic and democratic when our so called leaders loot our present, siphon our future, gallivant around the world buying choice properties. it will never be well with the enemies of NIGERIA. Buhari made a ludicrous attempt to run for second term.

It's finished!

Gerrard59:
It's simple economics. It's only those who failed economics in secondary school that will argue otherwise. Besides, how many states can ADEQUATELY pay 22500K promptly every month?

What is needed is not increment in the minimum wage (which is not even a good thing on its own) but a strengthening of the economy invariably the value of the naira.

the minimum wage being paid will still go back to the economy. the problem is not the minimum wage, the problem is the unspent money held by the political class that will not go into the economy.

Increasing minimum wage will help pump funds into the economy but the problem is that the political class won't spend most of their money here.

davodyguy:
This is the simple truth.

If we're all reasonable, we would realize that salary increment is not what we need now but for infrastructure to be fixed, sound economy and low commodities prices.

At ₦18,000 more than 25 Governors out of 36 owed workers, cos they couldn't afford it with revenue drop. Why would anyone think when you increase, they would be able to pay?

Yoruba says owó tí kò sí, jedi jẹdi ọ lè gbà. Not even stomach upset can take the money that's non existent
Even at ₦18,000 if dollar exchange to ₦ is back to below ₦200, there's constant electricity, purchasing power automatically goes up.

Prices are high, you increase salaries, the sellers automatically adjusts their products prices immediately to benefit from the more money in circulation.

Only employers of Labour and sound economists would understand

Gbam!!! If only people understood. I was laughing my head off when Sowore was talking about increasing the minimum wage to 100k...that's when I knew he's better off as a journalist.

So looting will not cause inflation?

Make you people continue de fool una self.

noeloge82:
I think Gandollar will have answers

So you expect me to pay my workers 22k after empowering them with Milo and bread to start their own tea making business? Never!!

Gerrard59:
It's simple economics. It's only those who failed economics in secondary school that will argue otherwise. Besides, how many states can ADEQUATELY pay 22500K promptly every month?

What is needed is not increment in the minimum wage (which is not even a good thing on its own) but a strengthening of the economy invariably the value of the naira.

I scored A2 in Economics, so I will answer you.

Every state in Nigeria can adequately pay 22,500 minimum wage with the right attitude and with governors who will not collect bribes like Ganduje.

But political holders can receive millions of bonuses per month without crumbling the country financial power ni? Na God go judge una ooh!







meanwhile, Your fada nyash by Vtek on repeat. Nice song for comic relief

rottennaija:


Govt can't bring down prices of goods if they country do not produce enough. And even when they do, prices will always be high unless it's easy to transport them from one location to another.

So you need to produce enough and you need good transportation. Roads transportation are not enough for goods to be low. You need rails way, it's cheaper, faster and saves time.

The point is, govt can't just make decrees or laws to force price down, th market does it. The only thing govt can do it create an environment for local production, discourages importation and most importantly, infrastructure, railways

Straight to the point

VaselineCrew:
Wat about increase in minimum Gandjollar, will dat too cause inflating

Meaning what?
Oga be careful o

stagger:


I scored A2 in Economics, so I will answer you.

Every state in Nigeria can adequately pay 22,500 minimum wage with the right attitude and with governors who will not collect bribes like Ganduje.

What and what did you cram when preparing for your WASSCE?

This is must be dangerous group sponsored by government.

Omeokachie:


It amuses me cos I'm a monkey straight out of the, jungle Because he has an Igbo sounding name means he is not an APC member? Okorocha must be in SDP in your warped reasoning.
Just gimme my banana

Sorry i dont speak monkey
This should do

So millions received by law makers and other politicians won't cause inflation abi.

Which kind yeye staged group be this

Governors can adequately pay if they cut down on bogus ,inflated white elephant projects with dollar kickbacks ,It is disheartening that our leaders are so self centered,greedy and irrational,the minimum wage Of #30,000 will help reflate the economy cos every civil servant has more than 3 direct and over 5 indirect dependents ..I weep everyday in my heart seeing people suffering to make ends meet,times are really hard in Naija now

Amadioha01:


Blood of obara!! The 30k will become valueless!! Bruh do you read/research at all. 30k from the 1980's compared to now !! That is not even comparable.

either I read it or not. when there is no inflation what improvement does it add to welfare of workers and Nigerians?

the truth is this inflation of a things shouldn't be an excuse not to increase their salaries as most workers in the rural area use farming as support to their well being


when Kogi and Benue workers didn't receive salaries, ekiti and Abia. how do you think those people were surviving? telling me about one nonsense book that has no revelation in the wellbeing of Nigeria workers and Nigerians


I stand to my earlier submission. FG should increase workers salaries and stop using one inflation as an excuse

davodyguy:
This is the simple truth.

If we're all reasonable, we would realize that salary increment is not what we need now but for infrastructure to be fixed, sound economy and low commodities prices.

At ₦18,000 more than 25 Governors out of 36 owed workers, cos they couldn't afford it with revenue drop. Why would anyone think when you increase, they would be able to pay?

Yoruba says owó tí kò sí, jedi jẹdi ọ lè gbà. Not even stomach upset can take the money that's non existent
Even at ₦18,000 if dollar exchange to ₦ is back to below ₦200, there's constant electricity, purchasing power automatically goes up.

Prices are high, you increase salaries, the sellers automatically adjusts their products prices immediately to benefit from the more money in circulation.

Only employers of Labour and sound economists would understand

But alas, govt will increase it just to enter for second term.

acenazt:
Let them Come to an understanding. Governments should help bring down prices of commodities and Labour people should agree on D 22.5k

When you say government should help bring down the price of commodities how re they suppose to do that... Cos it all balls down to economy and the last time I checked this government knows nothing about the economy

rottennaija:


Govt can't bring down prices of goods if they country do not produce enough. And even when they do, prices will always be high unless it's easy to transport them from one location to another.

So you need to produce enough and you need good transportation. Roads transportation are not enough for goods to be low. You need rails way, it's cheaper, faster and saves time.

The point is, govt can't just make decrees or laws to force price down, th market does it. The only thing govt can do it create an environment for local production, discourages importation and most importantly, infrastructure, railways

rail is faster?

So the inflation that we are currently facing what caused it? Let me guess, dollar sharing, foreign medical bills, millions for power bike etc

Gerrard59:


Yes, inflation exists everywhere but in the most reasonable of forms.

If unfortunately, you don't understand the above, kindly ask Venezuelans and Zimbabweans.

and are we operating the same economy with those countries you mentioned. you Nigerians are fast to compare yourself with a country that understand economical policies than you


why didn't the increment of politicians allowance and salaries prompt inflation.


NB: don't refer me to any book as Nigeria govt don't follow policy. we claimed to be operating mixed economy and we are operating capitalism economy and you people are talking about one inflation that didn't rise with politicians allowances.

Nonsense!!! Bullshit!!! Crab!!!
Looting of our money will not cause inflation abi
High cost of production due to bad power supply will not cause inflation
Hike in construction contract sum will not cause inflation and all the constituency allowance and bloated security votes will not cause inflation, it is 22k that will cause inflation. Ayelala will visit you ppl one day

Voodoo Economics
The same government that argued they needed to spend their way out of inflation by reinflating the economy.
Much of the inflation in our economy is imported due to exchange rate vagaries.
If we look at the quantum of those on minimum wage as a proportion of aggregate spending in the economy what is it?
In order to say it will cause inflation or not we need metrics.
E.g what are the things in the basket of goods and services used to measure inflation and how sensitive are they to minimum wage worker spend?
A key item is petrol, arguably minimum wage has no impact.
Another one is food. Reality is in Nigeria those who can afford food don't look at the price

Categorically, not all state can even Pay salaries when it was 18k. Even the 22500 will still be difficult to pay in some states. The 30k minimum wage should be done base on the state with high cost of living interms of food, housing and other bills

Na which group, wrote this thing Buhari buy waec certificates for how much

chuckjonesbaba:


I believe he was being sarcastic.

Maybe he was. But a lot of people have a wrong idea on how things works. They think govt can simply declare prices of goods and services and it stays that way.

They can do that of their have enough money to subsidies, but it's not possible in a situation.

Luminary1:


What is the meaning of this nonsense! It's has now gotten to a point where it's anti-democratic for workers to demand for a pay raise above the meagre salary they collect that can't even feed them for a month let alone Cater for other needs, but patriotic and democratic when our so called leaders loot our present, siphon our future, gallivant around the world buying choice properties. it will never be well with the enemies of NIGERIA. Buhari made a ludicrous attempt to run for second term.

It's finished!

As someone once said, using corruption to justify fiscal recklessness makes no sense and has severe negative consequences.

The biggest reason why the Greek economy collapsed so spectacularly wax fiscal recklessness.

It paid out generous pensions, a bloated civil service with generous pay and other goodies.

Greece had for decades lived above its means and it eventually collapsed with massive debt with junk bond ratings.

Jonathan was fiscally irresponsible by raising the minimum wage to 18,000 from 5,500 primarily because he was bent on winning the election in 2011.

This was an extremely expensive increase and the adverse effect hidden because of sky high oil prices but exposed when oil prices collapsed in 2014.

The FG started borrowing to pay salaries and the less buoyant state governments even stopped salaries.

History will repeat itself if FG gives in to blackmail by workers exploiting the 2019 election year.

This time it will be worse has oil prices are only about 60% of what they were in 2014

but stealing trillions by our politicians won't lead to inflation

what inflation are they talking about? is it hyper or low? because those akpurakubems in house of rep and senate collecting millions didnt cause harm to the economy