New Minimum Wage. - Politics - Nairaland
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Labour Presents New Minimum Wage Demand Above The N56,000 Earlier Proposed / New Minimum Wage: NASS Ready, Waiting For Executive – Saraki / FG To Propose N45,000 Minimum Wage, Meets Labour Today (2) (3) (4)
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| New Minimum Wage. by 989900B: 9:43am On May 17, 2016 |
The below is what the NLC should be angling for. N18,000 was roughly $120 then. Simple Math1: $120*199 (CBN)+inflation @12% (to be f00lishly conservative . . . not factoring-in year on year inflation and street inflation)= present minimum wage= N26,745. Simple Math2: $120*330 (Average between bank rate and BM)+inflation @12% (to be f00lishly conservative . . . not factoring-in year on year inflation and street inflation)= present minimum wage= N44,352. My Verdict: In order to check hyper-inflation and considering probably the Naira might appreciate in the near future N26,745+N44,352/2= N35,553 =Minimum Wage. |
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