The Nigeria Labour Congress (NLC) has stated that a monthly salary of ₦1 million would hold little value for workers without a stable currency and improved economic conditions.
Speaking in Abuja, NLC President Joe Ajaero said the real concern for organised labour is not just wage increases but the strength of the naira and the overall cost of living.
“Even if Nigerian workers earn ₦1 million, it will not be meaningful if the naira has no value.
“What we are looking for is a currency that can sustain workers and their families at least to the end of the month,” he said.
Ajaero explained that rising inflation continues to erode workers’ purchasing power, making it increasingly difficult to afford basic needs such as food, transportation, and housing.
He added that discussions around a new national minimum wage must follow due legal processes and cannot be rushed due to political timelines.
“The minimum wage has not been negotiated yet. It is a process that must follow the law.
“When it is time, we will commence negotiation ahead of its expiration. It cannot be rushed because of election timelines,” he stated.
The NLC president said the congress would begin the negotiation process within the appropriate timeframe before the current wage structure expires.
He also called for urgent government intervention to ease the impact of inflation, noting that economic hardship has intensified, particularly due to rising fuel prices.
“We raised concerns when global developments began to impact fuel prices locally, and we called for intervention.
“The situation has not improved, and the burden on workers continues to increase,” he said.
Ajaero stressed the importance of developing a resilient energy policy to shield Nigeria from external economic shocks.
“It is not ideal that events in other parts of the world automatically translate into hardship in Nigeria.
“We must build a system that protects our economy and citizens,” he added.
On pension matters, he raised concerns about the growing number of pension unions, warning that it could create confusion within the system. He said the NLC is engaging stakeholders to address the issue and ensure proper coordination.
“There are several pension groups now, and this is creating ambiguity. We are engaging them to understand what is at stake and find a common ground,” he said.
Regarding the upcoming Workers’ Day, Ajaero noted that any protest would be limited to states that have not fully implemented the approved minimum wage.
“Street protests, if any, will be in states that have not complied with the minimum wage implementation.
“It is not a general protest across the country,” he said.
He explained that while most states have complied, some are yet to fully implement the policy, especially at local government levels and within the education sector.
“These are technical issues that must be addressed. We will evaluate the level of compliance before May Day,” he added.
Ajaero reaffirmed the NLC’s commitment to advocating policies that improve workers’ welfare and economic stability, while also commending the federal government for reviewing allowances for civil servants.
What you should know
The Nigeria Labour Congress says salary increases alone will not improve workers’ welfare without a stable naira and lower inflation.
NLC President Joe Ajaero stressed that rising living costs have eroded purchasing power, making even high wages insufficient. He noted that minimum wage negotiations must follow legal procedures and cannot be rushed.
The union also warned that protests on Workers’ Day will occur only in states yet to implement the approved wage.
The NLC is pushing for economic reforms, energy stability, and better coordination in pension administration.
