NLC Justifies N56,000 New Minimum Wage Proposal | Independent Newspapers Limited
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NLC Justifies N56,000 New Minimum Wage Proposal

Posted: Apr 30, 2016 at 3:29 am   /   by   /   comments (1)




The Nigeria Labour Congress has hinged its proposal for a N56,000 minimum wage increase to current inflationary trend in the country.

NLC argued that it was not out of place for government to increase workers’ salary even in times of recession, as it was an indirect means of stimulating economic activities.

According to Peters Adeyemi, Deputy President of the NLC, wage increase was a constitutional matter which ought to be observed by government as the employer, once every five years.

Adeyemi who spoke on the sidelines of the May Day commemoration which comes up on May 1, 2016 nationwide, noted that as at the time N18,000 minimum wage was negotiated with the Federal Government, the exchange rate was about N145 to a dollar.

NLC also argued that while inflation had resulted in the increase of goods and services, workers salary had remained stagnant.

“If you ask me how justified is the N56,000 wage increase in spite of the economic crisis, my answer would be yes, it is highly justified.

“First do not forget that the naira itself has collapsed, beyond the expectation of every Nigerian; I recall when we negotiated the N18,000 minimum wage, the exchange rate then was about N145 to a dollar.

“As at this morning, it is about N321 to a dollar; I heard it is a bit stable now at N321, but if you do arithmetical calculations, it shows it is more than one hundred per cent poorer, in whatever way you want to look at it.

“What that means in effect is that the N18,000 itself has gone down beyond one hundred per cent from the time it was negotiated.

“By implication, what N18,000 could buy as at when it was approved has reduced significantly beyond more than half; it would not be fair to say that we must continue to insist that N18,000 should be what is payable.

“Talking about the inflationary trend, if you look at the values associated, even the unlawful increase in electricity tariff, you will find that there has been tremendous increase in the prices of goods and services and salaries of workers have remained stagnant.

Right now, we are talking of fuel scarcity; you also know that Nigerians have had to contend with buying of petrol as much as N250 per litre and workers are involved at these outrageous demands,” Adeyemi said.

On the theme of this year’s May Day which is: “The Working Class and the Quest for Socio-Economic Revival,” he said the current economic situation called for stakeholders, particularly workers, to chart a way for national rebirth and engendering pro-poor policies.





Comments (1)

  • Apr 30, 2016 at 12:34 pm Edet ita

    I look at the demand of NLC on fifty six thousand Naira as being a request painfully made in the face of being strangulated. Eighteen thousand Naira honestly is not justified in the present circumstance. I suggest government should kick start negotiation immediately to curry confidence from the masses. If , then dollar was 145 per Naira and now or today dollar is 321 per Naira it therefore mean that if Government can offer thirty six or forty thousand Naira , the workers will accept as sacrifice. Government officials must also accept to sacrifice by reducing their expenses in the area of security vote , the excess use of private jet and aero plane and wasteful projects or projects that cannot enhance life of the people. The time now call for sacrifice from all.

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