The Nigeria Labour Congress (NLC) has expressed its belief that the new minimum wage should be negotiated to be either N100,000 or N200,000, given the increasing cost of living in the country.
Both the NLC and the Trade Union Congress (TUC) had initially planned to commence a strike on Tuesday, October 4, in response to the removal of fuel subsidies.
However, the labor unions decided to postpone the planned strike following a meeting with government officials in Abuja on Monday, October 2.
Joe Ajaero, the President of the NLC, explained that the agreement was made to provide the government with an opportunity to fulfill its commitments as previously agreed with organized labor.
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Ajaero clarified that the N35,000 wage increase, among the concessions made by the government, does not constitute a new minimum wage. He further noted that the minimum wage could potentially be set as high as N200,000.
Highlighting that the N35,000 wage adjustment is not an addition to the country’s existing minimum wage of N30,000, the NLC president mentioned that various factors, including inflation and the cost of living, would be taken into account when determining a new minimum wage.
He stated, “Several factors would be considered in the discussion – inflation, cost of living, and other related factors. We won’t request N65,000; we will seek a realistic amount because N65,000 is approximately $70, which is less than the minimum wage. The minimum wage is established by law, and until it is legislated in the National Assembly, it does not constitute a minimum wage.”
