Nigeria Labour Congress Proposes N1 Million Minimum Wage Amid Rising Inflation

The Nigeria Labour Congress (NLC) is considering an audacious proposal for a new minimum wage of up to N1 million for Nigerian workers, citing the relentless surge in inflation and the escalating cost of living under the current administration.

Joe Ajaero, President of the NLC, revealed this groundbreaking proposition in an interview with Arise News, underscoring the urgent need to address the economic hardships faced by workers across the country. Ajaero emphasized that the demand for a substantial increase in wages is necessitated by the alarming depreciation of the Nigerian currency, exacerbated by policies such as the removal of fuel subsidy.

The proposal for a N1 million minimum wage reflects the stark reality of the economic landscape, where essentials like rice and locally produced corn have become prohibitively expensive, with prices soaring to unprecedented levels. Ajaero highlighted the pivotal role of the cost of living index in shaping labour’s demands, stressing the imperative of securing wages that can sustain livelihoods in the face of spiralling inflation.

The NLC’s bold stance comes on the heels of mounting frustrations over the government’s failure to implement a 16-point agreement signed in October 2023, aimed at alleviating the “massive suffering” inflicted by policies such as the hike in petrol prices and the devaluation of the naira. In response, the NLC and the Trade Union Congress (TUC) issued a stern ultimatum to the government, demanding swift action to fulfil its obligations within 14 days.

Ajaero expressed scepticism about the government’s commitment to addressing the plight of workers, citing delays in convening negotiations and the composition of the minimum wage committee, which includes individuals with a track record of non-compliance with wage regulations.

As the nation braces for potential upheaval, the NLC’s proposal for a N1 million minimum wage signals a pivotal moment in Nigeria’s labour movement, with workers demanding equitable compensation and recognition of their contributions to the economy.

Written by sdbLive