The Nigeria Labour Congress (NLC) has jerked its demand for new monthly minimum wage for workers in Nigeria to one million Naira.
The NLC President, Joe Ajaero, in an interview on Arise Television today, February 12, said that the earlier N200,000 which the labour gave as acceptable new minimum wage is no longer adequate to meet the needs of an average worker.
He insisted that the new minimum wage must reflect the country’s economic conditions and other economic indicators.
“This N1 million may be relevant if the value of the Naira continues to depreciate; if the inflation continues to depreciate. “The demand of Labour is equally dependent on what is happening in society.
“You 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.
“Those 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.
“You will 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?
“We have to factor in all these issues. And that will determine the federal government’s commitment to these negotiations.”
He confirmed that the organized Labour is meeting with the Federal Government today to discuss resolutions around the strike notice issued by the NLC and Trade Union Congress (TUC) last week.
