The Nigerian Labour Congress (NLC) has announced that the earlier proposed N200,000 minimum wage to the Federal Government is no longer deemed realistic, taking into account the current economic situation in the country.
The National Vice President, Tommy Etim who represents it’s Congress, responded to Tuesday’s inauguration of the Minimum Wage Committee by the Vice President of Nigeria, Kashim Shettima.
According to PUNCH, Etim underscored that the congress would anchor its national minimum wage negotiation on the present economic reality rather than the previously proposed amount.
He said “You are aware that when we opted for the N200,000, the socio-economic challenges were not as biting as they are now. 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.” Etim added.
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