NLC President, Joe Ajaero, suggests ₦1 million as a potential new minimum wage for Nigerian workers due to economic challenges.
In a recent interview with Arise TV, Ajaero highlighted the escalating exchange rate, which has soared from ₦800/$1 to ₦1,440/$1, impacting workers’ purchasing power. Initially considering ₦200,000 as a minimum wage, Ajaero emphasized the need to reassess amidst inflation and currency depreciation.
Ajaero emphasized the necessity of aligning wage demands with the prevailing economic conditions and cost of living index. He criticized the delay in inaugurating the new minimum wage committee, stating it should have been formed at least six months prior to the current wage’s expiration.
Concerns arise as the committee, despite being inaugurated, has yet to convene, leaving a tight window for discussions. Ajaero urged swift action to address workers’ plight in the face of economic challenges.