The Nigerian Labour Congress (NLC) has declared that the N200,000 Minimum Wage earlier proposed for negotiation with the Federal Government is no longer realistic because of the prevailing biting economic situation in the country.
The Organised Labour maintained that the minimum wage would be negotiated nad decided based on the socio-economic situation.
NLC National Vice President, Tommy Etim, reflecting on the inauguration of the Minimum Wage Committee by Vice President Kashim Shettima on Tuesday, stated: “You are aware that when we opted for the N200,000, the socio-economic challenges were not as biting as they are now.
READ ALSO: Tinubu condemns mindless, brutal bloodletting in Ekiti
“And when you now look at the exchange rate, it was not what it is now. The naira rate not been devalued as it is now. So, N200,000 is no longer tenable.
“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.”
Pingback: Obi celebrates with former US House of Reps Speaker, Paul Ryan, @ 54 - Goodnewsnigeria