NLC SLASHES MINIMUM WAGE DEMAND TO N500,000

Organized Labour is poised to advocate for a N500,000 minimum wage during the zonal public hearing on the new wage structure commencing today in Lagos, Kano, Enugu, Akwa Ibom, Adamawa, and Abuja. While Joe Ajaero, the President of the Nigeria Labour Congress, had previously mentioned the possibility of pushing for a N1 million minimum wage due to ongoing inflation.

Recent indications suggest a more conservative approach with the proposed N500,000, as revealed by a confidential source within the NLC.

The public hearing, set to gather input from various stakeholders including state governors, ministers, civil society groups, and the private sector, aims to establish a new minimum wage aligned with current economic realities and workers' expectations.

Joe Ajaero, the President of the Nigeria Labour Congress, will lead the meeting in Yola, Adamawa State, as part of the North-East session, while Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, will oversee the South-West hearing in Lagos.

President Bola Tinubu, represented by his deputy Kashim Shettima, inaugurated a 37-member panel on January 30, 2024, at the Council Chamber of the State House in Abuja, focusing on deliberations surrounding the new minimum wage.

The panel, comprising representatives from federal and state governments, the private sector, and labour, is tasked with recommending a new national minimum wage before April 1, coinciding with the expiration of the current N30,000 minimum wage mandated by law. Despite several meetings in Abuja, the tripartite committee has not yet discussed specific figures for the new minimum wage.

President of the NLC, Joe Ajaero, emphasized in a February 11 interview on Arise TV that persistent inflation might lead organized labour to advocate for a new minimum wage of up to N1 million for Nigerian workers. Ajaero linked this demand to the escalating cost of living, accentuated by factors such as the removal of the fuel subsidy and other governmental policies during President Bola Tinubu's tenure.

He underscored the impact of currency depreciation, citing the exchange rate rising from about N800/N900 to over N1,400. Ajaero emphasized that the cost of living index, notably evident in the soaring prices of essential items like rice, would guide the organized labour's wage proposal.