The Nigerian Labour Congress said on Tuesday that the N200,000 minimum wage it earlier proposed to the Federal Government was no longer realistic, considering the country’s current economic situation.
The congress, which spoke through its National Vice President, Tommy Etim, was reacting to Tuesday’s inauguration of the Minimum Wage Committee by Vice President Kashim Shettima.
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.”