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Why Nigerian govt should consider N1m as minimum wage – NLC President, Ajaero
The President of the National Labour Congress (NLC), Joe Ajaero, suggests that if inflation and other economic indicators worsen, the Federal Government should consider a monthly minimum wage of N1 million.
Ajaero made this statement during an interview with Arise Television on Sunday. He emphasized that any new minimum wage must take into account the economic realities of the country, particularly with the continuous depreciation of the naira against the dollar, which inevitably leads to demands for a higher minimum wage.
He reiterated that the initial proposal of N200,000 for the minimum wage is no longer feasible, pointing to the escalating prices of food items and inflationary pressures in the economy.
Ajaero mentioned that organized labor is scheduled to meet with the Federal Government on Monday to discuss resolutions regarding the strike notice issued jointly by the NLC and the Trade Union Congress (TUC).
He explained, “The suggestion of N1 million may become necessary if the value of the Naira keeps depreciating and inflation persists. The demand for labor is also influenced by societal factors.”
Ajaero highlighted the fluctuations in exchange rates, citing an increase from about N900 to N1,400 or even higher. He emphasized that these factors, including the rising cost of living, must be considered in wage negotiations.
He pointed out the exorbitant prices of essential goods like rice, which now range from N60,000 to N70,000 per bag, making it crucial to ensure that the minimum wage covers basic necessities, including transportation costs.
Ajaero emphasized the need for the federal government to factor in these issues during negotiations and demonstrate commitment to addressing them.
It’s worth noting that organized labor had issued a 14-day nationwide strike notice the previous week. However, President Bola Ahmed Tinubu’s administration appealed to workers not to embark on a strike, citing concerns over the country’s economic condition.
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Benson Upah, spokesperson for the Nigeria Labour Congress (NLC), has cautioned that Nigerians might eventually face petrol prices of N5,000 per litre.
In an interview with Weekend Trust, Upah criticized the recent increase in fuel pump prices and argued that it contradicts the agreement previously made between the NLC and President Bola Tinubu’s administration.
He asserted that the Federal Government’s claims of restoring the fuel subsidy are untrue.
Upah remarked, “The subsidy was never reinstated as they have stated. So, what justifies the rise in pump prices from N650 to N1,500 or even N2,000?
“This situation suggests that we might not have seen the worst yet. There is a possibility that fuel prices could reach N5,000 per litre. We hope it doesn’t come to that, but if it does, it will be up to Nigerians to make the decision.”
The Nigerian Education Loan Fund (NELFUND) has announced the receipt of a two million Naira bank draft from Adegboyega Awomolo, SAN, a former student loan beneficiary.
This information was disclosed in a statement by Monalisa Dike from the Corporate Communications Department of NELFUND on Friday in Abuja.
Dike noted that Awomolo had received the loan during his undergraduate studies at the University of Ife (now Obafemi Awolowo University) from 1975 to 1977.
She mentioned that Awomolo had fully repaid the loan, showing his strong commitment to the country.
“The original loan amount was N1,000 for two academic sessions, which played a crucial role in his completion of the law degree.
“Although Awomolo had attempted to repay the loan several times over the years, he was only able to settle it now.
“In his letter to NELFUND’s Managing Director, Mr. Akintunde Sawyerr, Awomolo expressed his appreciation for the student loan opportunity provided by the Nigerian government,” Dike said.
She added that Awomolo praised the transparency and accountability NELFUND has shown in managing student loans.
Dike emphasized that Awomolo’s repayment highlights the enduring impact of President Bola Tinubu’s initiative and NELFUND’s continued importance in supporting Nigerian students.
She also mentioned that the repaid funds will be used to support the education of current students in need of loans.
The Niger Delta Development Commission (NDDC) has issued a warning to the public about scammers pretending to represent the NDDC Youth Internship Scheme.
The NDDC also noted that registration for the scheme ended on August 31, 2024.
This information was released in a statement on Friday by Seledi Thompson-Wakama, Director of Corporate Affairs at the commission, and shared with DAILY POST.
The statement reads, in part: “We have received reports of individuals receiving unsolicited messages claiming they have been selected for the NDDC Internship Scheme, which includes requests for personal information and an acceptance fee.
“The NDDC does not charge any fees for placing qualified youths in its internship programme. We want to make it clear that these fraudulent selection messages are not affiliated with the NDDC.
“Any official communication from us will only come through our verified websites and social media channels. If you receive a message like this, please ignore it and report it to the relevant authorities. Your safety and privacy are our top priorities.
“For genuine inquiries about our empowerment programs, please contact us directly through our official channels.”
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