NLC Concedes that Proposed N200,000 Minimum Wage is No Longer Feasible
Wednesday, 31 January 2024, 2:52 pm
The Nigerian Labour Congress (NLC) has recognized that the previously proposed N200,000 minimum wage, which was presented to the Federal Government, is no longer realistic given the current economic conditions in Nigeria.
Tommy Etim, the Vice President of NLC, made this statement in response to the inauguration of the Minimum Wage Committee by Vice President Kashim Shettima on Tuesday at the Presidential Villa in Abuja.
Etim explained, “When we initially proposed the N200,000 minimum wage, the socio-economic challenges were not as severe as they are now. Additionally, the exchange rate was not as unfavorable as it is at present. Therefore, N200,000 is no longer a viable option.”
He further clarified that the NLC is not entering into the negotiations with a fixed amount in mind, but it will not be advocating for N200,000. The final decision on the national minimum wage will be based on the prevailing socio-economic situation in the country.
“That’s the basis on which we will conduct our discussions and negotiations for the national minimum wage,” Etim concluded