NLC President Ajaero: ₦1 Million Salary Worthless Without Strong Naira

Joe Ajaero, the President of the Nigeria Labour Congress (NLC), expressed that a salary of ₦1 million is meaningless if the Naira remains weak. In an interview on Tuesday in Abuja, he highlighted that merely increasing salaries does not alleviate the financial strain on workers, as inflation continues to diminish their purchasing power.

Ajaero pointed out that the rising cost of living, particularly in food, transport, and housing, has made life increasingly difficult for workers. He noted that discussions regarding the minimum wage have not yet commenced, but the NLC plans to negotiate ahead of the expiration of the current wage structure.

Ajaero called for urgent government intervention to tackle inflation and the escalating fuel prices, which have exacerbated economic hardships for workers. He clarified that any planned worker actions would not be nationwide but limited to states that have not fully implemented the approved minimum wage.