The Nigeria Labour Congress (NLC) has said a monthly salary of ₦1 million would hold little value for workers without a stable naira and improved economic conditions.
NLC President, Joe Ajaero, made this known in an interview on Tuesday in Abuja.
He emphasised that organised labour is more concerned about the strength of the naira than nominal wage increases, noting that inflation continues to erode workers’ purchasing power.
According to him, the rising cost of living has made it increasingly difficult for workers to afford basic needs such as food, transportation, and housing.
“Even if Nigerian workers earn ₦1 million, it will not be meaningful if the naira has no value.
“What we are looking for is a currency that can sustain workers and their families at least to the end of the month,” he said.
Ajaero noted that discussions around a new national minimum wage must follow due process, stressing that the review is governed by law and tied to a specific cycle.
“The minimum wage has not been negotiated yet. It is a process that must follow the law.
“When it is time, we will commence negotiation ahead of its expiration. It cannot be rushed because of election timelines,” he added.
He said the congress would initiate the process within the stipulated timeframe before the current wage structure expires.
The NLC president also called for urgent government action to cushion the impact of inflation, noting that economic conditions have yet to improve for workers.
He pointed out that rising fuel prices have worsened the situation, driving up transportation costs, food prices, and the overall cost of living.
“We raised concerns when global developments began to impact fuel prices locally, and we called for intervention.
“The situation has not improved, and the burden on workers continues to increase,” he said.
Ajaero stressed the need for a resilient energy policy to shield Nigeria from external shocks.
“It is not ideal that events in other parts of the world automatically translate into hardship in Nigeria.
“We must build a system that protects our economy and citizens,” he stated.
On pensions, he raised concerns over the growing number of pension unions, warning that it has created confusion within the system.
He said the NLC has begun engaging relevant stakeholders to address the issue and ensure better coordination.
“There are several pension groups now, and this is creating ambiguity. We are engaging them to understand what is at stake and find a common ground,” he said.
Ajaero added that the congress would also seek clarity on deductions and remittances of check-off dues among pensioners.
Regarding the upcoming Workers’ Day, he clarified that any planned protests would not be nationwide but limited to states yet to fully implement the approved minimum wage.
“Street protests, if any, will be in states that have not complied with the minimum wage implementation.
“It is not a general protest across the country,” he said.
He noted that while most states have complied, some are yet to fully implement the policy, particularly at the local government and education sector levels.
He also highlighted concerns over consequential adjustments, with some states paying only the minimum wage without adjusting other salary structures.
“These are technical issues that must be addressed. We will evaluate the level of compliance before May Day,” he said.
Ajaero reaffirmed the NLC’s commitment to advocating policies that improve workers’ welfare and ensure economic stability.
He also commended the federal government for reviewing peculiar allowances and approving a 100 per cent duty tour allowance for civil servants, expressing hope that the measures would be effectively implemented.