The President of the Nigeria Labour Congress (NLC), Joe Ajaero, has provided a detailed explanation for the union’s demand for a minimum wage of over ₦450,000. Speaking during the Vanguard Economic Discourse, Ajaero emphasized the need for the government to address the severe economic challenges and alleviate the suffering of citizens caused by current policies.
Ajaero highlighted that the current minimum wage, when converted to dollars, amounts to roughly $20, placing Nigeria among the countries with the lowest minimum wages globally. He underscored the significant cost of living in Nigeria, citing examples such as a bag of rice costing around ₦84,000 and the expense of refilling gas cylinders. He also pointed out that a basic meal at a local eatery costs about ₦500, which translates to ₦270,000 per month for a family of six without meat. These examples, according to Ajaero, illustrate the ongoing financial struggles faced by Nigerian workers.
In addressing concerns about the potential inflationary impact of the proposed wage increase, Ajaero argued that a real wage boost would stimulate the economy by increasing workers’ purchasing power and productivity. He criticized the government’s economic policies, such as fuel price hikes, electricity tariff increases, and currency flotation, which he claimed have exacerbated the economic burden on workers without providing adequate relief measures. Ajaero called for wages to be adjusted in line with inflation, similar to practices in other countries, and urged the government to focus on policies that genuinely benefit the people and reduce poverty.