Good News For Workers As NLC, TUC Set To Make N1M As New Minimum Wage

Nigeria Labour Congress (NLC) President, Joe Ajaero, emphasized that if the ongoing inflation continues unabated, organized labor might push for a new minimum wage of up to N1 million for Nigerian workers.

Ajaero made these remarks during an interview with Arise News on Sunday evening, highlighting the impact of rising living costs since President Bola Tinubu took office, particularly due to the removal of fuel subsidies and other policy changes.

He stressed that the demand for a higher minimum wage would be influenced by economic factors, stating, “This N1 million may be relevant if the value of the Nigerian (naira) continues to depreciate; if the inflation continues unchecked because the demand of labor is equally dependent on what is happening in society.”

Ajaero pointed out the rising prices of essential commodities such as rice and corn, underscoring the necessity for a wage increase that aligns with the cost of living.

Regarding the negotiation process for the new minimum wage, Ajaero criticized the delay in setting up a committee and expressed skepticism about the composition of the committee members, including Governors who have not implemented the current minimum wage.

He said, “The old minimum wage will be expiring by April and ordinarily, the Federal Government ought to have set up a committee six months before that time so that negotiation would have commenced but the Federal Government didn’t do that until (recently when) they inaugurated a committee and the committee has not sat.”

“It appears we are going to work within one month or two to agree on a figure and I doubt how those ones are going to… especially when you look at the people that the Federal Government assembled as members of the committee.”

“They looked at some of the governors that are not paying even the existing minimum wage and even they have a minister of budget who didn’t implement his minimum wage as a governor.”

“If you have these people in the government team on the issue of minimum wage, some of us have not seen a bright future in the work of this new minimum wage committee.”

Both the NLC and the Trade Union Congress last week Thursday issued a 14-day strike notice to the Federal Government, expressing frustration over its failure to implement a 16-point agreement signed in October 2023.

This agreement aimed to alleviate the suffering caused by the rise in petrol price and the devaluation of the naira, policies that have increased hardships and inflation.

The unions demanded that the government fulfills its obligations within the stipulated 14-day period starting from Friday, February 9, 2024.