The Nigerian Labour Congress (NLC), has stated that its initial proposal of N200,000 minimum wage to the Federal Government is no longer realistic.
According to the NLC, this new development is in light of the country’s current economic conditions.
The disclosure was made in a statement by the National Vice President, Tommy Etim, in response to the inauguration of the Minimum Wage Committee by Vice President Kashim Shettima on Tuesday, January 30.
According to Etim, the committee will now approach national minimum wage negotiations based on the present economic situation rather than its earlier suggestion.
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.”
On the lowest sum that the congress intended to present to the committee, Etim said, “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.”
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