Organised labour pulls out of minimum wage negotiations with FG

The Labour unions have pulled out of the ongoing minimum wage negotiations with the Federal Government of Nigeria.

The decision was taken on Wednesday, May 15 after failing to come to an agreement regarding the FG and the Organized Private Sector, offer of N48,000 and N54,000 wage respectively.

Spokesman of the Nigerian Labour Congress (NLC) Benson Upah confirmed the exit and described the minimum wage offer as “ridiculous”.

He told Daily Post: “Yes we are out. We are about to address the press and you will get the details then”.

Meanwhile, CorrectNG recalls that earlier this year, President of the National Labour Congress, (NLC) Comrade Joe Ajaero urged the Federal Government to consider N1 million as minimum wage if inflation and other economic indicators worsen.

He expressed the belief that as long as the dollar keeps rising against the naira, the demands for a higher minimum wage will be inevitable.

The NLC president explained that the initial N200,000 minimum wage proposal which was reviewed to N400,000, is no longer tenable given the soaring price of food items and inflation.

Ajaero said; “This N1 million may be relevant if the value of the Naira continues to depreciate; if the inflation continues to depreciate. The demand for Labour is equally dependent on what is happening in society.”