By Sabiu Abdullahi
The Nigerian Labour Congress (NLC), in response to the current economic challenges facing Nigeria, has reevaluated its stance on the proposed N200,000 minimum wage.
The National Vice President of the NLC, Tommy Etim, clarified that the earlier proposed amount is no longer realistic, given the prevailing economic conditions in the country.
Etim’s statement comes in the wake of the inauguration of the Minimum Wage Committee by Vice President Kashim Shettima on Tuesday.
The NLC had initially proposed the N200,000 minimum wage when economic challenges were less severe.
According to Etim, the socio-economic landscape has significantly worsened since the N200,000 proposal, with the exchange rate and the devaluation of the naira playing crucial roles in the reconsideration.
He highlighted that the original proposal is no longer tenable, noting the need for a flexible approach in determining the new minimum wage.
Etim stated, “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. That’s what we are going to base our national minimum wage discussion and negotiation on.”
The NLC’s acknowledgment of the evolving economic realities signals a pragmatic approach to the forthcoming discussions and negotiations regarding the national minimum wage.