N200,000 Minimum Wage No Longer Realistic – NLC Hints On New Minimum Wage

The Nigeria Labour Congress (NLC) has stated that it won’t be negotiating with the federal government based on the N200,000 it earlier proposed to become the new minimum wage in Nigeria.

According to the NLC, given the current economic situation in the country, the N200,000 is no longer a realistic figure as things are now more expensive.

The National Vice President of the NLC, Tommy Etim, who made this known on Tuesday, however, said the labour union won’t be going into negotiations with any fixed amount in mind but will engage the government and other stakeholders based on current economic realities.

He said, “You are aware that when we opted for the N200,000, the socio-economic challenges were not as biting as they are now. And when you now look at the exchange rate, it was not what it is now. The naira rate not been devalued as it is now. So, N200,000 is no longer tenable.”

“We are not going there with a fixed amount, but definitely not N200,000. By the time we get there, we will decide based on the socio-economic situation. That’s what we are going to base our national minimum wage discussion and negotiation on.”

Vice President Kashim Shettima on Tuesday inaugurated a 37-member new minimum wage committee to work on a new national minimum wage for Nigeria.

He charged them to consult widely and submit their recommendations in good time.