The Nigeria Labour Congress (NLC) has raised the possibility of negotiating a new minimum wage, potentially ranging from N100,000 to N200,000, citing the escalating cost of living as a primary reason.
Initially, both the NLC and the Trade Union Congress (TUC) had scheduled a strike for Tuesday due to concerns about the removal of fuel subsidies. However, following a meeting with government officials in Abuja on Monday evening, they decided to postpone the strike.
NLC President, Joe Ajaero, explained that the postponement was to allow the government time to fulfill its commitments to organized labor. He emphasized that the N35,000 wage increment, offered by the government, is not a new minimum wage. Ajaero suggested that the new minimum wage could potentially be set at N100,000 or N200,000.
Ajaero pointed out that numerous factors would influence the determination of the new minimum wage, including inflation and the cost of living. He emphasized the need for a realistic figure and clarified that N65,000, which is approximately $70, falls short of meeting the minimum wage standard.
For any new minimum wage to become effective, it must go through the legislative process in the National Assembly, Ajaero emphasized, emphasizing that the minimum wage is ultimately established through law.
