Comrade Joe Ajaero, President of the Nigeria Labour Congress (NLC), has urged President Bola Tinubu-led administration to implement a new minimum wage of N1 million for workers in light of the prevailing economic challenges.
Ajaero emphasized that the economic situation has deteriorated significantly, necessitating a minimum wage adjustment to address the pressing needs of workers.
During an interview on Arise Television, Ajaero underscored the impact of galloping inflation and currency depreciation on the economy, making it imperative to reevaluate the minimum wage.
He stated, “This N1 million may be relevant if the value of the Nigerian (naira) continues to depreciate and if inflation is not checked because the labour demand is equally dependent on what is happening in society.”
Ajaero elaborated on the skyrocketing cost of living, citing exorbitant prices for essential commodities like rice and corn. He emphasized the need for a minimum wage that adequately covers transportation and sustenance expenses.
The NLC president lamented the delay in setting up a committee to negotiate the new minimum wage, urging the federal government to prioritize the welfare of workers amidst economic uncertainties.
Meanwhile, Senator Adams Oshiomhole of Edo North Senatorial District attributed the current economic challenges to the previous administration’s policies under former President Muhammadu Buhari.
Oshiomhole praised President Tinubu’s commitment to national interests and emphasized that he should not be held accountable for decisions made by the previous government.
He remarked, “My first loyalty is to Nigeria. At some point, before the last president left office, I lamented loudly what I saw as reckless policies that were designed to dehumanize the population that was already in pain.”
Oshiomhole emphasized the importance of distinguishing between the actions of past administrations and the current government, emphasizing President Tinubu’s dedication to national welfare above partisan interests.