WORKERS DAY SOLIDARITY FOREVER: MORE WORK, LESS PAY – LAND OF THE UNEMPLOYED…

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Labour Day is celebrated by workers around the world. Karl Marx had said, “workers of the world unite, you have nothing to lose but your chains”. 

Nigerian workers have been waiting for 2 years for a minimum wage review, which has become a never-ending ‘work in progress’. 

In the attached presentation, Bismark Rewane and the FDC think tank take a deep dive into the growing misery index and the fading dream of state workers with salary arrears especially in oil-producing states where there is according to Peter Pan an “oasis of plenty in a dessert of wants”.

HISTORY OF WORKERS DAY

  • Also known as Labour day or Mayday – A day declared to celebrate workers and is commemorated across many countries
  • Started 1 May 1886
  • First celebrated by a pan-national organization of socialist and communist political parties in the USA

Karl Marx said “workers of the world unite, you have nothing to loose but your chains”

MAY 1, 2017: One year seems like a decade…

  • Buhari was in the U.K.
  • Vice President & governors promised workers the following:

NIGERIAN WORKERS: ARE THEY PRODUCTIVE?

Countries with the lowest minimum wage

ARE YOU BETTER OFF IN 2018?

SOCIAL INDICATORS

The Nigerian workforce – 85 million

STATE BY STATE COMPARISON

State IGR VS FAAC ALLOCATION

COMPARED TO OTHER SSA COUNTRIES

WHAT TO EXPECT IN 2018/2019

  • Rent will increase marginally
  • Food (Garri, Rice, Beans) costs would be affected by seasonalities
  • Increased Naira liquidity due to election spending
  • School bills will be flat
  • Road transport fare will remain driven by supply shocks (e.g. fuel scarcity
  • Air fare likely to increase due to high political travelling

Financial Derivatives Company Ltd

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