Dare Babalola
The Nigeria Labour Congress (NLC) has warned that even a monthly salary of ₦1 million would have little real value if the naira continues to weaken and inflation remains unchecked.
NLC President, Joe Ajaero, made the remarks in an interview with the News Agency of Nigeria (NAN) in Abuja on Tuesday, stressing that the real issue for workers is not just higher wages but the purchasing power of the currency.
According to him, rising inflation has steadily eroded incomes, making it increasingly difficult for Nigerian workers to afford basic necessities such as food, transportation, and housing.
He explained that what workers need most is a stable economic environment where earnings can sustain households throughout the month, rather than nominal increases that are quickly wiped out by rising costs.
“Even if Nigerian workers earn ₦1 million, it will not be meaningful if the naira has no value,” Ajaero said, noting that the cost-of-living crisis has outpaced wage adjustments.
On ongoing discussions around a new national minimum wage, the labour leader clarified that the process has not yet reached the negotiation stage. He said wage reviews are guided by law and must follow due procedure and timing, not political pressure or electoral considerations.
Ajaero added that organised labour would only begin formal negotiations when the current wage cycle approaches expiration, stressing that the process cannot be rushed.
He also raised concerns over the impact of fuel price increases, saying they have worsened economic hardship by driving up transportation and food costs. According to him, global developments continue to have direct consequences on domestic prices, deepening pressure on workers.
The NLC president called for stronger policy measures to stabilise Nigeria’s energy sector and reduce vulnerability to external shocks, arguing that the economy must be structured to better protect citizens from global market fluctuations.
On pension matters, Ajaero noted growing confusion caused by the emergence of multiple pension-related groups. He said the NLC is engaging stakeholders to streamline coordination and ensure clarity around deductions and remittances.
He also hinted at planned activities for Workers’ Day, stating that any protests would be limited to states yet to fully implement the approved minimum wage, rather than a nationwide action.
While acknowledging that many states have complied, he said implementation gaps still exist in some areas, particularly regarding consequential salary adjustments and sector-specific applications.
Ajaero reaffirmed the NLC’s commitment to defending workers’ welfare, while commending the federal government for recent adjustments in allowances and duty tour entitlements for civil servants, urging proper and effective implementation.
