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Author Topic: Monthly minimum wage: ~$82 is that too much to ask?  (Read 440 times)
baobao2000
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January 12, 2019, 04:52:23 PM
 #21

I am very sorry to hear this story. I think the minimum wage depend on living standard, GDP and a lot of reasons. I think some time a place has good economy, it actually don’t need a minimum wage, because no one want to work for a low salary. It just like buy and sell, if everyone want to buy an item, then the price will go up itself anyway, and if everyone want to sell the item, then the price will be very low. Maybe Nigerian politicians tied to lower the minimum wage to attract more investors, but the economy problem can’t be only resolved by lower the wage. Most investors also look into other aspects, like infrastructure, laws, education etc.
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January 29, 2019, 05:52:01 PM
 #22

BREAKING: Nigeria House of Representatives approve N30,000 (approximately $82) new monthly minimum wage

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January 30, 2019, 05:52:12 PM
 #23

snip-
Great news for the Nigerian Wink
Maybe because they were able to fool the mass before by giving them a low compensation rate and as your people did not have an option, they were forced to accept the job even if the salary isn't that enough. Maybe the mass protest will help and will be effective since you have mentioned that your country's election is coming up in February.
This issue must be considered and must have the attention of the next candidates to solve. I do understand that Nigeria is one of the richest nations when it comes it economics but the people were fooled by the national administration. You people need to stand up and show them what you want and what you deserve!

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January 30, 2019, 09:52:42 PM
 #24

Leadership problem is the critical challenge in Africa, Nigeria been the giant of  Africa should show good examples to other countries as a template for them  to follow, until politics  become unattractive through the reduction of wages and salaries of political leaders,  the country will continue with the rat race. $82 is not too much for workers.

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January 31, 2019, 12:56:13 AM
 #25

I remember that in Brazil there was for a long time a discussion that the minimum wage should never be below 100 dollars. During the 1998 crisis, it was much debated that this should be defined by law. At the end of 2004¹, the minimum wage went above 100 dollars and never went below again, even without a law defining it as a rule. The minimum wage in Brazil today is defined following an equation and is readjusted every year.

The biggest problem in this discussion is not the value of the readjustment. But the delay in readjusting the salary. 50 dollars a month today is below the value that the World Bank defines as poverty line². Even in China³, the value is 3x larger than this.




¹ https://www.fenae.org.br/portal/sp/informacoes/boletim-in-foco/dieese/salario-minimo-em-dolares.htm
² https://en.wikipedia.org/wiki/Poverty_threshold
³ https://www.china-briefing.com/news/minimum-wages-china-2018-19/

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January 31, 2019, 01:05:55 AM
 #26

Great news for the Nigerian Wink
Maybe because they were able to fool the mass before by giving them a low compensation rate and as your people did not have an option, they were forced to accept the job even if the salary isn't that enough. Maybe the mass protest will help and will be effective since you have mentioned that your country's election is coming up in February.
This issue must be considered and must have the attention of the next candidates to solve. I do understand that Nigeria is one of the richest nations when it comes it economics but the people were fooled by the national administration. You people need to stand up and show them what you want and what you deserve!

And now all the "small jobs" that would have been paid under that amount disappear. Who could possible lose those ill paid jobs? Oh wait, those who need them the most, the poor of the poor. The higher the minimum wage is, the less "menial" jobs are (legally) available, and those people go back to the streets or go "informal"...

In short: Everytime you rise the minimum wage, you destroy jobs and throw more people to the streets.

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February 03, 2019, 08:49:57 PM
 #27

The Nigeria Labour Congress are requesting for an increase in the minimum wage of her workers from N18,000 dollar equivalent = ~$49 to N30,000 =~$82. There's a law that states that every 5years a new minimum wage should be implemented but for the past (almost) decade no new minimum wage have been set.
Why am I writing this?,  Today there's said to be a planned  mass protest and if their agreement isn't met, the NLC will embark on a nationwide strike and this will lead to the  shut down of the economy of the nation not forgetting that we have our election coming up February.

Nigeria was one (don't know if we still are) of Africans richest nation with a GDP of over $376.4 billion +/- but can't pay her workers a minimum wage of $82 monthly. An average American if he/she works 3hour daily in one month considering he/she works 25days earns a minimum of $525 i.e $7 per hour, An average South African earns minimum of $277 monthly can someone tell me where we got it all wrong? Why is our governments finding it difficult to pay her workers a minimum wage of ~$82 monthly when the average governors earns a minimum of $50,000 not including his monthly allowances.
Everything is very simple-in some countries (not only in Nigeria),people are paid wages that they have enough minimum for them to work until the next month.I recently read a newspaper and in it a very smart official tells how cool you can live on$ 50 a month.It's just bullying people.

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February 04, 2019, 12:33:54 AM
 #28

That's why you have the black market, pun intended.     Grin
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February 04, 2019, 02:35:25 PM
 #29

And now all the "small jobs" that would have been paid under that amount disappear.

Life isn't always fair, you need sacrifice somethings to achieve greater things. So what you're trying to say is the minimum wage would had stay that way so there'll be more smaller jobs and get paid in such a small amount that can't even last a family for a month?

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February 04, 2019, 02:55:41 PM
 #30

why is our governments finding it difficult to pay her workers a minimum wage of ~$82 monthly when the average governors earns a minimum of $50,000 not including his monthly allowances.

I believe the biggest problem is the governor's wage.

Nigeria is a country that is listed as 111 rank in the index of economic freedom.
https://www.heritage.org/index/ranking

It probably has high taxes, to pay high amount of money for the bureaucratic structure (including governor's wages). Reducing taxes should be their goal.

When you say it's $82, that is misleading because nobody uses dollar there..
 But anyway, as jet Cash said, forcing a minimum wage increases unemployment.

In a country where government try to control and tax everything, all focused should be in attracting new investors and new companies. Forcing a minimum wage without focusing on more economic freedom and less taxes is not solving anything. People will work for less than the minimum wage in shady relationships with employers .this is what happens in Brazil.

In Brazil many people work as employers, but they do a turn around to avoid taxes and labor rights and receive more money: people create a fake company to work for another company, so they are not legally employed . Labor rights usually only reduce wages and employment.

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February 04, 2019, 04:02:02 PM
 #31

This is why so many people from Nigeria scam on the internet. They have very few options.  Poverty makes crime skyrocket as people get more desperate everyday.  It won't be long until most countries have a universal basic income.

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February 04, 2019, 04:15:08 PM
Last edit: February 04, 2019, 06:45:51 PM by Artemis3
 #32

And now all the "small jobs" that would have been paid under that amount disappear.

Life isn't always fair, you need sacrifice somethings to achieve greater things. So what you're trying to say is the minimum wage would had stay that way so there'll be more smaller jobs and get paid in such a small amount that can't even last a family for a month?

That is how freedom (in economy) works, but it results in the opposite of what you think...

The people who get those jobs are not planning to make a career from them (at least most won't). But what socialism wants is to end those jobs (by force), so it results in zero income vs poor income to the group who was benefiting from them.

If you leave those low wage jobs alone, some people will have a starting point where to move from. You do not stop looking for better jobs when you start a low paid work. And as an employer, the higher wages socialism orders you to pay, the less job offers you are going to give, and with more socialist "squeezing"; the business itself simply closes or goes "family" oriented (which is a variant of informal or grayish).

Your socialist move to "improve" workers salaries by force of decree, will produce in the end, a reduction in workers salaries. This is the main problem with trying to apply socialist mentality to the economy. The same results when you impose a "lower price" to goods.

Another example is when you want to "protect" jobs by it making hard to fire people, then less employers will want to employ, because it becomes too expensive. Every tiny little thing you add to the law "in the name of workers" benefit results in less jobs, and also in less employment.

So how to actually solve this? You go in the opposite direction. By promoting a free economy, you get lots of job offers, since its cheap to hire and easy to fire, you get more jobs available in the market. And that leads to... Competition, which leads to.. better job offers (with better conditions).



Another way to stimulate the economy would be to lower taxes, yes, lower taxes. That stimulates people to open more business, and the State ends collecting more taxes. Ironic isn't? Economy tends to work the opposite way socialists think. This is because socialism tries to "fix" the economy by force of what can actually be solved by choice of freedom.



From a worker's perspective, he/she wants to have access to those low paid jobs. It is their choice to do them or not. This is a choice you are removing by raising wages. And yes, it fuels the "black market" (as in illegal, mind you). Its the very same thing that happens if price of things are fixed, when you foolishly try to "stop inflation" by decree as they did in Zimbabwe under Mugabe or Venezuela under Maduro, and ignore the real problem which is you overspending and then trying to fix the budget by "printing" money to pay for it, leading to more inflation, etc.

So there is nothing to celebrate, and lot to mourn. Venezuelans are currently earning $8 a month. See yourselves in the mirror before its too late...

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February 05, 2019, 07:06:03 PM
 #33

There are varied reasons which decide the average monthly wage of a person. These wages probably depend on the political systems weather they are good or corrupted, literacy rate of a country, how good the GDP of a country and how they are being utilized to improve the employment standards of people. Few countries have low literacy rates which leads to the government paying less than what needs to be paid for those jobs.

Political systems too play a major role in deciding the employment opportunities and minimum wages of a country. There are few countries which produce graduates at a much faster rate and around 90% of them being unemployed once they have finished their course from the university. This is due to the fact that the employment is controlled by the government bodies and they are being occupied by illiterate candidates. This might feel strange for many while reading but situations like these are commonly occuring in parts of third world countries (or probably in atleast corrupted countries).

An average illiterate taxi driver who owns a car and works for 5 days in a week for 6 hours a day in a first world country (eg. Australia) earns around 4000 USD whereas a literate guy who has a better knowledge and has 10+ yr experience in his domain earns 700-800 USD per month in a third world country. There has been several instances in third world countries where fresh literate unemployed people worked as street sweepers and received a pay of 200 USD monthly which they felt as far better than their unemployment.

Coming to Nigeria, they do pay higher if they hire good literate people. i have seen people getting paid a maximum of 8000-10000 USD a month if they work in Nigeria and other African countries considering the good mineral wealth prevailing in the continent. Mechanical workers are getting paid a lot for governing the extraction processes but the poor labourers are being fooled by the government with low wages.

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February 05, 2019, 08:32:07 PM
 #34


I'm talking about a country where a Senator gets  ~ $38,928 per month, ~ $467,136 per annum which is doubled the value of what the US Vice President ($233,000) gets per annum. A little wonder why politics in the country is always a do or die affair.


So we have politicians getting 39K$  per month and while minimum wage is 82$ (and that's, as they say, too much)


Is it only me that sees that the real problem isn't the min wage (at least not right away), lol?

EDIT: We in Croatia have it somewhat bad, but not like this. I truly feel for all of you and hope you get out of it, one way or another. GL!

They should be glad that their obviously smarter leaders let them get this much.

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February 06, 2019, 11:58:06 AM
 #35

Given the economic standing of the country, It may or may not be too much to ask. Given that the GDP is able to support it, but for me it should at least be 100.
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