NLC, FG To Negotiate Minimum Wage Over High Cost of Living

The Nigeria Labour Congress (NLC) has vowed to ensure that the upcoming national minimum wage negotiations in 2024 accurately reflect the country’s cost of living.

NLC President, Joe Ajaero committed his address at the 19th edition of the union’s Harmattan School in Abuja.

Ajaero, represented by NLC Deputy President Benjamin Anthony, stated the labor union’s concern over the unbearable living conditions faced by workers since the removal of fuel subsidy by the federal government.

Ajaero emphasized that governments at all levels must acknowledge the immense difficulties faced by both formal and informal workers.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

He added that the NLC’s primary objective in the negotiations is to establish a living wage that not only covers the cost of living but also allows for savings by the workers.

READ ALSO: FG to Disburse N75bn Subsidy Grant to Businesses

He said:

“We must reckon that a well-motivated and well-remunerated workforce has a positive impact on productivity and national development.

“As we anticipate the commencement of negotiations for the national minimum wage in 2024, we seek the understanding of all stakeholders to ensure that we use this opportunity to arrive at a minimum wage commensurate with the prevailing cost of living.”

President Bola Tinubu-led federal government had that the new minimum wage for Nigerian workers would commence from April 1, 2024.

Idris Mohammed, the Minister of Information and Orientation, had disclosed the above in an interview.

According to Mohammed, the current minimum wage of N30 thousand would cease to exist from March 2024 as the analysis of the 2024 –2026 Fiscal Framework budgets revealed that Tinubu’s administration planned to spend N24.66tn on salaries in 2024, 2025, and 2026.