NLC Demands N500,000 Minimum Wage Amid Economic Hardship

The Nigeria Labour Congress (NLC), under the leadership of Comrade Joe Ajaero, has called for a national minimum wage of N500,000, arguing that the existing wage of N70,000 has significantly lost value due to increasing food and transportation costs. Ajaero emphasized that workers should seek a wage that accurately reflects their purchasing power rather than a nominal figure.

He criticized the federal government for profiting from rising fuel prices while workers face economic hardships. Ajaero illustrated the impact of inflation by comparing the value of N70,000 to the cost of essential commodities, highlighting that a bag of rice costs N500,000.

In response, Dr Kamil Shoretire, the Permanent Secretary of the Federal Ministry of Labour and Employment, indicated that the government is working on introducing a new national minimum wage and is currently in discussions with stakeholders, although no formal negotiation date has been set.