Joe Ajaero, the President of the National Labour Congress (NLC), has suggested that the Federal Government should consider a monthly minimum wage of N1 million if economic indicators, including inflation, worsen.
Speaking in an interview with Arise Television on Sunday, Ajaero emphasized the need for the new minimum wage to reflect the country’s economic realities.
He stated that as long as the naira continues to depreciate against the dollar, the demand for a higher minimum wage will persist.
Ajaero noted that the initial proposal of N200,000 as the minimum wage is no longer feasible, citing the rising cost of food items and inflationary pressures in the economy.
The NLC president indicated that organized Labour is scheduled to meet with the Federal Government on Monday to discuss resolutions regarding the strike notice issued by the NLC and the Trade Union Congress (TUC).
He explained, “This N1 million may be relevant if the value of the Naira continues to depreciate; if the inflation continues to depreciate.
The demand for Labour is equally dependent on what is happening in society.”
Ajaero highlighted the impact of economic factors on the cost of living, pointing out that essential commodities like rice are now priced between N60,000 to N70,000 per bag.
He stressed the importance of a minimum wage that can adequately cover transportation and basic living expenses.
The NLC had recently issued a 14-day nationwide strike notice, prompting appeals from the administration of President Bola Ahmed Tinubu to workers to refrain from embarking on a strike due to the country’s economic condition.
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