National Telescope national telescope newspaper
The Nigeria Labour Congress will on Thursday (today) commence its zonal public hearing on the new wage structure.
The hearing will be held in Lagos, Kano, Enugu, Akwa Ibom, Adamawa, and Abuja.
Recall that the President of the Nigeria Labour Congress, Joe Ajaero, in an interview on Arise TV on February 11, stated that if the ongoing inflation continued, its union might push for a new minimum wage of up to N1 million.
He said, “This N1m may be relevant if the value of the naira continues to depreciate; if the inflation continues unchecked because the demand of labour is equally dependent on what is happening in the society.
“You will remember that by the time we were contemplating N200,000 (as minimum wage), the exchange rate was about N800/N900 (to a dollar). As we talk today, the exchange rate is about N1,400 or even more.
“Those are the issues that determine the demand and it is equally affecting the cost of living. And we have always said that our demand will be based on the cost of living index. You will agree with me today that even a bag of rice is going for about N60,000/N70,000 or more.
“A bag of locally produced corn is about N56,000 or more. Foodstuff is getting out of reach, now are we going to get a minimum wage that will not be enough for transportation even for one week?’’
This has however been greeted with controversy as many experts say it’s not realistic.
Meanwhile, the public hearing on the new minimum wage, which has been scheduled to fix a minimum wage will be held simultaneously in all six geopolitical zones.
It is expected to receive inputs from organised Labour, state governors, ministers, civil society groups, and the organised private sector on a new minimum wage reflective of the current economic realities and the workers’ aspirations.
It was gathered that the NLC President, Joe Ajaero, will preside over the meeting in the North-East taking place in Yola, while the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, will chair the South-West hearing held in Lagos.
The Federal Government through Vice President Kashim Shettima, had on January 30, 2024, inaugurated a 37-member panel on the new minimum wage at the Council Chamber of the State House in Abuja.
