Ajaero has spoken on controversial ₦1m Minimum Wage amid rising living cost in Nigeria.
NewsOnline Nigeria reports that the President of the Nigeria Labour Congress (NLC), Joe Ajaero, has explained why a proposed ₦1 million minimum wage could destabilise the Nigerian economy, arguing that reducing the cost of living and improving the purchasing power of the naira should take priority.
Ajaero made the remarks during an interview on Channels Television on Thursday, amid ongoing discussions between organised labour and the Federal Government over a possible review of workers’ minimum wage.
According to the NLC president, the central issue is not simply how much workers earn but how much their salaries can buy amid rising prices of food, transportation, housing and other essential goods and services.
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“₦1,000,000 minimum wage will collapse the Nigerian economy,” Ajaero stated.
He stressed that the government must first address the underlying factors driving the high cost of living and strengthen the purchasing power of the country’s currency.
Ajaero’s comments come as workers continue to face economic pressures, including rising fuel prices and increasing transportation costs.
The Federal Government recently approved a ₦70,000 transport allowance for workers, a measure introduced amid concerns over the rising cost of commuting and the broader impact of living expenses on household incomes.
The debate over wages and economic relief highlights the challenge facing policymakers and organised labour as they seek to improve workers’ welfare while addressing inflation and the wider cost-of-living crisis.
For the NLC, Ajaero’s position places emphasis on the need for economic measures that make workers’ earnings more valuable, rather than focusing exclusively on increasing nominal salaries.
