The Nigeria Labour Congress (NLC) has expressed deep concerns over the inadequacy of the newly implemented N70,000 minimum wage for Nigerian workers, citing the rising cost of Premium Motor Spirit (PMS), commonly known as petrol.
Speaking during a two-day “Minimum Wage Implementation Workshop” in Lagos on Thursday, September 19, 2024, NLC President Joe Ajaero criticized President Bola Tinubu’s administration, claiming that organized labour was misled into accepting the N70,000 minimum wage as a buffer against further increases in petrol prices.
Ajaero explained that workers are facing unbearable levels of hunger, poverty, and frustration, as the new wage has already been eroded by skyrocketing costs, especially the price of fuel. He warned that unless urgent steps are taken, the situation could worsen, affecting millions of Nigerian citizens.
During the workshop, Ajaero recalled the conversations with President Tinubu that led to the acceptance of the N70,000 wage. He revealed that the president had proposed a N250,000 minimum wage in exchange for a significant hike in fuel prices, but the NLC rejected the offer, insisting that such an increase would be counterproductive.
“We were deceived by the government into agreeing to this N70,000 minimum wage to prevent the petrol price hike, only to be faced with higher prices soon after,” Ajaero lamented. “Even N250,000 would not be enough to cope with the current economic realities if fuel prices keep rising.”
Ajaero also shared that President Tinubu had suggested funding a tour for labour leaders to visit West African countries where fuel prices are significantly higher, but the NLC declined, emphasizing that the root of the problem lay in the smuggling of Nigerian fuel to neighboring nations.
The NLC president concluded by stressing that the N70,000 minimum wage is insufficient, particularly with some employers in the private sector unwilling to implement it, and warned that the current economic situation is pushing Nigerian workers to the brink.
