The Nigerian Labour Congress (NLC) has said that the earlier proposed N200,000 minimum wage for the federal government is no longer possible due to the current economic situation in the country.
Tommy Etim, the National Vice President, made this known while responding to the inauguration of the Minimum Wage Committee by Vice President Kashim Shettima on Tuesday, 30th January, 2023.
He said Congress would no longer maintain its earlier position on the national minimum wage, considering the present economic reality.
He mentioned the increased socio-economic challenges and the currency devaluation, making the earlier proposal impossible.
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 has 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.”