N1m salary useless without strong economy – NLC

‎The Nigeria Labour Congress (NLC) says even a monthly salary of ₦1 million will not be meaningful to workers if Nigeria does not have a stable currency and a stronger economy.

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‎The NLC President, Joe Ajaero, said this in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja.

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‎He said workers are more concerned about the value of the naira than just increases in salary.

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‎He warned that inflation has continued to reduce what people can actually buy with their income.

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‎“Even if Nigerian workers earn ₦1 million, it will not be meaningful if the naira has no value,” he said.

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‎According to him, what workers need is a currency that can sustain them and their families throughout the month.

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‎“What we are looking for is a currency that can sustain workers and their families at least to the end of the month,” Ajaero added.

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‎He explained that rising cost of living has made life difficult for workers, especially in areas such as food, transport, and housing.

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‎On the issue of minimum wage, Ajaero said negotiations have not yet begun.

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‎He stressed that the process is guided by law and follows a fixed timeline.

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‎He added that organised labour will begin discussions when the appropriate time comes, ahead of the expiration of the current wage structure.

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‎Ajaero also called on the government to urgently address inflation and rising fuel prices, which he said have worsened economic hardship for workers.

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‎He noted that increases in fuel prices have led to higher transport costs and food prices across the country.

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‎He also urged Nigeria to develop stronger economic and energy systems that are less affected by external shocks.

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‎“It is not ideal that events in other parts of the world automatically translate into hardship in Nigeria,” he said.

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‎He also clarified that any planned Workers’ Day action would not be nationwide but limited to states that have not fully implemented the approved minimum wage.

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