By Abiola Olawale
The president, the Nigeria Labour Congress (NLC), Comrade Joe Ajaero has proclaimed that the only tenable amount for the minimum wage for a Nigerian worker is N1 million.
This is as the union’s president said the inflation and other economic indicators in the country has affected the value of Naira. Ajaero made this known during an interview session with Arise Television, Sunday.
According to the NLC president, the new minimum wage must reflect the country’s economic conditions, adding that as long as the dollar keeps rising against the naira, the demands for a higher minimum wage will be inevitable. He added that the initial proposed N200,000 minimum wage is no longer visible.
This is coming in the wake of the ongoing discussion about a new minimum wage for Nigerian workers.
In his words, “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.
“You will remember that by the time we contemplated N200,000, the exchange rate was about N900. Today, the exchange rate is about N1,400 or even more.
“Those are the issues that determine the demand, and they are equally affecting the cost of living, and we have always said that our demand will be based on the cost of living index.
“You’ll agree that a bag of rice is about N60,000 to N70,000. Foodstuff is getting out of reach. Now, will we get a minimum wage that is insufficient for transportation, even for one week?
“We have to factor in all these issues. And that will determine the federal government’s commitment to these negotiations,” he added.
