The National Labour Congress (NLC) has advocated for a new monthly minimum wage of N1 million, justifying the proposal based on the country’s economic conditions.
NLC President Joe Ajaero revealed this stance during an interview on Arise Television.
Ajaero emphasized that the suggested increase is imperative as long as the dollar continues to rise against the naira, affecting various economic indicators. The initial proposal of N200,000 for the minimum wage is deemed untenable, considering the escalating prices of essential commodities and inflationary pressures on the economy.
The NLC and Trade Union Congress (TUC) are set to meet with the Federal Government on Monday to discuss potential resolutions regarding the strike notice previously issued.
Ajaero highlighted the importance of factoring in the current cost of living index, considering the rising costs of food items, such as a bag of rice priced at N60,000 to N70,000.
The NLC president emphasized the need for a minimum wage that is sufficient for transportation and other living expenses, expressing the belief that these factors should influence the federal government’s commitment to the ongoing negotiations.
It’s worth noting that organized Labour issued a 14-day nationwide strike notice last week, prompting an appeal from President Bola Ahmed Tinubu’s administration for workers to reconsider the strike action in light of the country’s economic conditions.