IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 8 NO. 4 2022
DOI: https://www.doi.org/10.56201/jafm.v8.no4.2022.pg22.36

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Bottommost Remuneration and Extant Stock of Public Workers during Inflationary Period: Accounting Viewpoint from Nigeria

Inyang Inyang Ochi, Enya Francis Ejeje & Oqua Kingsley Edet

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Abstract

This study investigated and measured the effect of variations in bottommost remuneration on public workers during inflationary period taking viewpoint. Facts were gotten from a Cross- section of 300 subordinate workers and 400 high-ranking workers in the public service by the use of well-thought-out inquiry form. The facts were then examined using the ordinary least square method of multiple regression. Experiential outcomes and tests discovered that there is a momentous correlation between income level, consumption and savings at the 5 per cent level. The study further discovered that all classes of workers consumed more at the new- fangled remuneration. The marginal propensity to consume of low income workers and those of high income workers had revealed that both sets set aside a huge percentage of their income for consumption. Mainstream of the workers were married with children, which further advocated that a significant part of their income was dedicated to family maintenance. Methods suggested to enhance worker’s welfare and extant stock comprise regular remuneration increasing appraisal, control of inflation rate and provision of food sponsorships by government.

keywords:

Bottommost, Consumption, Extant, Remuneration, Stock, Wealth

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