NLC revisits N200,000 proposed minimum wage

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The Nigerian Labour Congress (NLC) has revised its stance on the proposed N200,000 minimum wage, citing the country’s current economic challenges.

NLC Vice President, Tommy Etim, expressed this view in response to the inauguration of the Minimum Wage Committee by Vice President Kashim Shettima.

Etim highlighted that the initial proposal was made under different economic circumstances and emphasized the need to reconsider it, given the present exchange rate and economic realities.

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He clarified that while the NLC isn’t fixed on a specific amount, the previous figure of N200,000 is no longer feasible.

However, Etim 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 has not been devalued as it is now. So, N200,000 is no longer tenable”.

“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.”

The NLC intends to base future discussions and negotiations on the prevailing socio-economic conditions.

“That’s what we are going to base our national minimum wage discussion and negotiation on.”