Mr. Joe Ajaero, President of the Nigeria Labour Congress (NLC), has signaled the potential for a higher minimum wage demand of N615,000 should inflationary pressures persist. Ajaero highlighted concerns over escalating living costs fueled by inflation, increased tariffs, taxes, and rising fuel prices.
Ajaero emphasized that the current demand was set before recent economic changes, including electricity tariff hikes and cybersecurity taxes, exacerbating the financial strain on Nigerian workers. He underscored the urgent need for government intervention to address inflation and other economic challenges affecting citizens.
The NLC president clarified that the N615,000 demand was based on independent research by the NLC and TUC, focusing solely on essential needs such as food, clothing, healthcare, and education. Expressing disappointment with the government’s handling of minimum wage discussions, Ajaero called for fair compensation for workers, juxtaposing it with the generous salaries and allowances of government officials.
Despite government inertia, Ajaero disclosed that the Federal government had called for the reconvening of the tripartite committee on the National Minimum Wage, slated for May 15, 2024. However, he cautioned that failure to reach an agreement by the end of May could jeopardize industrial peace in the country.
Advocating for a balanced approach that considers both workers’ needs and employers’ interests, Ajaero emphasized the importance of sustainable economic growth in setting a new minimum wage.
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