How We Arrived As N615,000 Minimum Wage –NLC President

 

• Joe Ajaero elaborated on N615,000 minimum wage proposal submitted to Tripartite Committee.

• Recent reforms in Nigeria, like fuel subsidy removal and foreign exchange market unification, increased living costs.

• Inflation at 33.2% in March; Labour and Federal Government negotiate new minimum wage to alleviate economic strain.

 

EKO HOT BLOG reports that Joe Ajaero, President of the Nigeria Labour Congress on Thursday, elaborated on the process behind the N615,000 minimum wage proposal submitted to the Tripartite Committee.

Recent reforms in Nigeria, such as the removal of fuel subsidy and the unification of the foreign exchange market, have escalated the cost of living significantly.

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Inflation figures hit 33.2 per cent in March, further compounding a troubled economy.

Labour unions and the Federal Government have since been locked in negotiations over measures including a new minimum wage to cushion the impacts of the harsh economy.

The NLC is proposing a N615,000 monthly salary for workers, a jump from the current N30,000.

Although many believe it is unrealistic, the labour union believes many states can pay it if they get their priorities right.

Ajaero in the statement, said the figure was a product of a painstaking effort through which the congress captured the cost of living of Nigerian workers and masses in all parts of the country.

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He further described the figure as essentially an outcome of independent research conducted by the NLC and the Trade Union Congress on the cost of meeting the primary needs of an average family around the country.

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