Why NLC may demand N1 million as minimum wage — Joe Ajaero

Joe Ajaero, the President of the NLC has said that organised labour may demand up to N1 million as the new minimum wage for if the rising inflation remains unchecked.

The NLC and TUC issued a stern ultimatum to the government to honour its
part of the understanding within 14 days starting from February 9, 2024.

In an interview with Arise News on Sunday evening, Ajaero said, “This N1 million may be relevant if the value of the naira continues to depreciate; if the inflation continues unchecked because the demand of labour is equally dependent on what is happening in the society.

You will remember that by the time we were contemplating N200,000 (as minimum wage), the exchange rate was about N800/N900 (to a dollar).

As we talk today, the exchange rate is about N1,400 or even more. Those are the issues that determine the demand & it is equally affecting the cost of living & we have always said that our demand will be based on the cost of living index