NLC's Joe Ajaero Warns Against ₦1 Million Minimum Wage

Joe Ajaero, the President of the Nigeria Labour Congress (NLC), expressed concerns regarding a proposed ₦1 million minimum wage, stating it could collapse the Nigerian economy. During an interview on Channels Television, Ajaero argued that the focus should be on reducing the cost of living and enhancing the purchasing power of the naira.

He pointed out that the real issue is not merely the amount workers earn but what their salaries can actually purchase amidst rising prices for essential goods and services. Ajaero's comments were made amid ongoing discussions between organized labor and the Federal Government about reviewing workers' minimum wage.

He highlighted that the government must first tackle the factors driving the high cost of living. The Federal Government recently approved a ₦70,000 transport allowance for workers to address rising commuting costs.

Ajaero's stance underscores the need for economic measures that enhance the value of workers' earnings rather than solely increasing nominal salaries.