The Nigeria Labour Congress (NLC) has indicated that the current minimum wage may need to be renegotiated to accommodate higher figures, potentially reaching N100,000 or even N200,000, News About Nigeria reports.
This move is prompted by the escalating cost of living in Nigeria.
Initially, both the NLC and the Trade Union Congress (TUC) had planned to embark on a strike in response to the impact of the fuel subsidy removal.
However, this strike was suspended after a meeting between union representatives and government officials in Abuja on Monday.
According to Joe Ajaero, the President of the NLC, the decision to postpone the strike was made to allow the government sufficient time to fulfil its obligations as outlined in the agreement reached with organised labour.
Ajaero emphasised that the N35,000 wage award proposed by the government is not a new minimum wage but an addition to it, suggesting that a new minimum wage could potentially be set at N100,000 or N200,000.
Ajaero explained, “So, it is not a minimum wage but it is a wage added to the minimum wage. So, should we in March, April, or before that time negotiate the new wage to be N100,000 or N200,000, it would be inscribed as minimum wage law which should be the law in existence.”
He stressed that the actual amount of the new minimum wage would depend on various factors such as inflation and the cost of living.
He also clarified that the N35,000 wage award is not an incremental addition to the existing minimum wage of N30,000.
Instead, it represents a separate wage category. Ajaero emphasised the importance of legislation by the National Assembly to formalize any new minimum wage.