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Labour wants N1M as new minimum wage
He highlighted that this demand reflects the rapid inflation rate and the devaluation of the naira in the country.
Joe Ajaero, the president of the Nigeria Labour Congress (NLC), has emphasized the necessity for a new minimum wage of N1 million for workers.
He highlighted that this demand reflects the rapid inflation rate and the devaluation of the naira in the country.
Ajaero pointed out that the previous discussions about N200,000 as a minimum wage were based on an exchange rate of about N800/N900, whereas now, the rate has risen to about N1,400 or more.
He emphasized that the cost of living has significantly increased, citing examples such as the skyrocketing prices of essential items like rice and locally produced corn.
Ajaero stressed the importance of considering these factors in the negotiation process, expressing concern that the federal government’s delay in setting up a committee for negotiations may complicate reaching an agreement before the current minimum wage expires in April.
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