Why the N70,000 Minimum Wage Is No Longer Sustainable Amidst Fuel Price Hikes
The Nigeria Labour Congress (NLC) announced that it will meet with the federal government to discuss how workers can cope with the recent rise in petrol prices. The NLC believes that the current petrol price has undermined the benefits of the planned N70,000 minimum wage, which hasn’t even been implemented yet.
During a workshop in Lagos, NLC President Joe Ajaero expressed that they felt misled by President Bola Tinubu into accepting the N70,000 wage, believing it would prevent petrol price hikes. He urged the government to tackle the severe hunger, poverty, and frustration that many Nigerians are experiencing.
Ajaero shared that during discussions with President Tinubu, there seemed to be efforts to distract the NLC with accusations, while the issue of rising petrol prices remained unresolved. He reiterated feelings of betrayal, stating that during negotiations, the President suggested they could have either a significant wage increase or a rise in petrol prices, but not both.
After discussing the situation, they decided against allowing further petrol price increases because it would hurt all Nigerians. Ajaero mentioned that even if the minimum wage were raised to N250,000, it wouldn’t cover the cost of fuel due to ongoing price hikes.
The NLC also discussed how petrol prices in neighboring West African countries are high, and the President had offered to fund a trip to learn from them. However, they refused, stating it would not be well-received by Nigerians. When they returned to meet with the President, they focused solely on the minimum wage and voiced that N70,000 might not be sufficient. Ajaero pointed out that private sector employers were not willing to compromise, leading to conflicts during meetings.
