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Home ยป Why Nigerian govt should consider N1m as minimum wage – NLC President, Ajaero
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Why Nigerian govt should consider N1m as minimum wage – NLC President, Ajaero

OsunDailyBy OsunDailyFebruary 12, 2024No Comments2 Mins Read
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Why we formed Labour Party - Joe Ajaero
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The National Labour Congress, NLC, president, Joe Ajaero, says the Federal Government should look at N1 million as monthly minimum wage if inflation and other economic indicators worsen.

Ajaero disclosed this on Sunday in an interview with Arise Television.

According to the NLC president, the new minimum wage must reflect the countryโ€™s economic conditions, adding that as long as the dollar keeps rising against the naira, the demands for a higher minimum wage will be inevitable.

He reiterated that the initial N200,000 minimum wage proposal is no longer tenable, citing the soaring price of food items and inflationary pressure in the economy.

He said the organized Labour is meeting with the Federal Government on Monday to discuss resolutions around the strike notice issued by the NLC and Trade Union Congress, TUC.

โ€œThis N1 million may be relevant if the value of the Naira continues to depreciate; if the inflation continues to depreciate. The demand for Labour is equally dependent on what is happening in society.

โ€œYou will remember that by the time we contemplated N200,000, the exchange rate was about N900. Today, the exchange rate is about N1,400 or even more.

โ€œThose are the issues that determine the demand, and they are equally affecting the cost of living, and we have always said that our demand will be based on the cost of living index.

โ€œYouโ€™ll agree that a bag of rice is about N60,000 to N70,000. Foodstuff is getting out of reach. Now, will we get a minimum wage that is insufficient for transportation, even for one week?

โ€œWe have to factor in all these issues. And that will determine the federal governmentโ€™s commitment to these negotiations,โ€ he said.

OsunDailyNG recalls that organized Labour issued a 14-day nationwide strike notice last week.

However, President Bola Ahmed Tinubuโ€™s administration had appealed to workers not to embark on a strike over the countryโ€™s economic condition.

ย 


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Ajaero Govt Minimum N1m Nigerian NLC President Wage
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