The Nigeria Labour Congress (NLC) rejected President Bola Tinubu’s proposal to pay a minimum wage of ₦250,000, conditional on increasing petrol prices. According to NLC President Joe Ajaero, the proposal was made during a meeting with the President in Abuja. Ajaero stated that the labour movement refused the offer, choosing to prioritize the welfare of Nigerians......See Full Story>>.....See Full Story>>
Why we accepted ₦70,000 minimum wage
While speaking on Channels TV’s Politics Today on Thursday, July 18, Ajaero explained that accepting the ₦70,000 minimum wage was a compromise to avoid further hardship for Nigerians. He emphasized that the labour movement is willing to make sacrifices, but not at the expense of the general population.
The price of petrol has skyrocketed from ₦184 in May 2023 to around ₦700 currently, depending on the location. This significant increase came after President Tinubu declared an end to subsidies.
How Tinubu removed fuel subsidy
On May 29, during his inauguration, President Tinubu announced an end to the era of fuel subsidies. This development has led to immediate fuel scarcity in the country and a subsequent hike in the price of the commodity.
Despite this hike, the Organized Labour agreed to a ₦70,000 minimum wage for Nigerian workers. According to Ajaero, this decision was made in consideration of the new wage review cycle, which will now occur every three years instead of five.
President Tinubu is expected to send an executive bill to the National Assembly to formalize the agreed-upon minimum wage, which will then be legislated into law. This development aims to provide a more regular and sustainable approach to wage reviews in the country.
NLC hails Tinubu with aluta song
Legit earlier reported that the NLC and TUC leaders were seen in a trending video hailing President Bola Tinubu at the end of their minimum wage meeting at the presidential villa in Abuja on Thursday, July 18.
Tinubu had pegged the minimum wage at N70,000 after months of negotiations between the government, labour, and the organized private sector.
The president also promised the workers other incentives, including the review of the minimum wage every three years.