The Nigeria Labour Congress (NLC) has stated that it will not negotiate with the federal government based on the N200,000 it previously proposed as the new minimum wage in Nigeria.
According to the NLC, given the country’s current economic situation, the N200,000 figure is no longer realistic because things have become more expensive.
Tommy Etim, the NLC’s National Vice President, stated on Tuesday that the labour union will engage the government and other stakeholders based on current economic realities rather than negotiating a fixed amount.
He stated, “You are aware that when we chose the N200,000, the socio-economic challenges were not as severe as they are today. And when you look at the current exchange rate, it was not what it is now. The naira rate has not been devalued as it is currently. So N200,000 is no longer tenable.
“We’re not going there with a set amount, but certainly not N200,000. When we get there, we’ll make a decision based on the socioeconomic situation. That will serve as the foundation for our national minimum wage discussion and negotiation.
On Tuesday, Vice President Kashim Shettima established a 37-member new minimum wage committee to work on a new national minimum wage for Nigeria.
He instructed them to consult widely and submit their recommendations on time.