NLC Takes Fresh Decision, Demand N500,000 As Minimum Wage

Amidst the soaring inflation and escalating costs of living confronting Nigerians, organised Labour, led by the Nigeria Labour Congress (NLC), has proposed a bold N500,000 minimum wage for Nigerian workers.

This development is coming as zonal public hearings on the new wage structure kick off on Thursday across six geopolitical zones, including Lagos, Kano, Enugu, Akwa Ibom, Adamawa, and Abuja.

A top official of the NLC, speaking to Punch under the condition of anonymity, revealed that the figure being considered at today’s meeting, based on proposals from state chapters, stands at N500,000.

This proposition aims to address the significant decline in purchasing power and the hardships faced by workers due to the current economic conditions.

The public hearings are set to gather insights and inputs from a diverse group of stakeholders, including state governors, ministers, civil society groups, and the private sector.

The objective is to arrive at a consensus on a new minimum wage that aligns with economic realities and fulfills workers’ aspirations.

The hearings are chaired by prominent figures, with Joe Ajaero presiding over the session in Yola, Adamawa State, representing the North-East zone, and the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, leading the South-West hearing in Lagos.

This initiative follows the inauguration of a 37-member panel by President Bola Tinubu’s deputy, Kashim Shettima, on January 30, 2024.

The panel, comprising representatives from the federal and state governments, the private sector, and Labour, is tasked with recommending a new national minimum wage by April 1, following the expiration of the current N30,000 minimum wage.

Ajaero stated, “This N1m may be relevant if the value of the naira continues to depreciate; if the inflation continues unchecked because the demand of Labour is equally dependent on what is happening in the society.

“You will remember that by the time we were contemplating N200,000 (as minimum wage), the exchange rate was about N800/N900 (to a dollar). As we talk today, the exchange rate is about N1,400 or even more.

“A bag of locally produced corn is about N56,000 or more. Foodstuff is getting out of reach, now are we going to get a minimum wage that will not be enough for transportation even for one week?”

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