The Nigeria Labour Congress (NLC) has stated that even a ₦1 million monthly salary would hold little value for Nigerian workers if the naira remains weak and the broader economy unstable.
NLC President, Joe Ajaero, made this known in Abuja, emphasising that rising inflation has significantly eroded the real value of wages. He argued that the solution goes beyond salary increases, stressing the need to strengthen the naira and improve overall living conditions.
“Even if Nigerian workers earn ₦1 million, it will not be meaningful if the naira has no value,” Ajaero said, noting that workers require an economic system that can sustain them throughout the month.
He decried the surging cost of living, pointing out that basic necessities such as food, transportation and housing have become increasingly unaffordable. According to him, fuel price hikes have worsened the situation, triggering ripple effects across multiple sectors of the economy.
Addressing the minimum wage debate, Ajaero clarified that no negotiations are currently ongoing. He explained that the process is regulated by law and cannot be accelerated for political convenience, assuring that discussions will commence at the appropriate time before the current wage structure expires.
The labour leader also called on the government to urgently tackle inflation and implement a resilient energy policy capable of shielding Nigerians from global economic shocks.
He further expressed concern over growing confusion in the pension system, linked to the emergence of multiple unions. Ajaero said the NLC is engaging relevant stakeholders to restore order and ensure proper remittances.
Ahead of Workers’ Day, he hinted that any planned protests would be limited to states that have yet to fully implement the approved minimum wage. While most states have complied, he noted persistent gaps, particularly at the local government level and within the education sector.
Reaffirming the NLC’s position, Ajaero said the congress remains committed to advocating policies that protect workers’ welfare and promote economic stability.
