If a fraudster can create a new agency, appoint himself as DG, secure an office space in the federal secretariat, create accounts with the CBN, have meetings with ministers and diplomats, and secure over a billion naira allocation in the 2026 budget without any security agency
Is a โฆ500,000 Minimum Wage Realistic?
Please fact-check me: Nigeria has 2 million civil servants. When you add the military, police, and paramilitary services, the figure increases to 3 million. When you add pensioners, the figure rises to 4 million.
A โฆ500,000 minimum wage is unrealistic. Why? Because it would cost Nigeria a minimum of โฆ2 trillion each month, and even that is conservative, because not every civil servant and pensioner will earn minimum wage. Most will earn above minimum wage. So, the actual monthly wage bill will be closer to โฆ4 trillion, if not more.
Now, ask yourself this: Where will Nigeria get โฆ36 trillion annually to pay a โฆ500,000 minimum wage in the public sector?
Please bear in mind that the total revenue collected by the Federal Government of Nigeria is projected to be less than โฆ30 trillion per annum. Again, please fact-check me.
What this means is that if Nigeria is to pay workers a โฆ500,000 minimum wage, we will return to the era of borrowing just to pay salaries, because our public wage bill will exceed our revenue.
What about roads, hospitals, schools, social services, and defence? If we are spending all our income paying salaries and even borrowing because our annual revenue will not cover our wage bill, then we will not have any funds left for capital expenditure.
President Tinubu stopped the practice of borrowing to pay salaries. Are we sure we want to return to such an ugly past?
Because if the minimum wage is โฆ500,000, then the government will have to do either of two things: borrow, or sack workers.
So, may I appeal to presidential candidates to be a bit more realistic and circumspect about the promises they make to the electorate? You may mean well, but please think things through so you can be true to yourself!
Reno Omokri
Ambassador Designate to Mexico. Gospeller. Deep Thinker. #TableShaker. #1 Bestselling author of Facts Versus Fiction: The True Story of the Jonathan Years. Hodophile. Hollywood Magazine Humanitarian of the Year, 2019. Business Insider Influencer of the Year, 2022. 21st Most Talked About Person in Africa, 2024.
@Rauf_Ajani@renoomokri Yar'aduwa soul was taking by the will of God, no evidence shows that the guy with the brain that help ur Tpain answer questions in London is responsible. And at least he didn't forge his certificate
Toni totuila sang a song title e go better about 24yrs ago. Toni bobo e never better oo country just dey worst . That man wey hit ur car for Lagos na him come jam shege upon Nigerians oo ๐คฃ naija