"Based on Cost of Living": NLC Speaks on How Next Minimum Wage Will Be Negotiated in 2024

• The Nigeria Labour Congress (NLC) has pledged to advocate for a national minimum wage in 2024 that accurately reflects the country's cost of living
• NLC President Joe Ajaero emphasised the hardship workers faced following the federal government's removal of the fuel subsidy
• Ajaero also expressed the union's objective of securing a living wage during the upcoming negotiations with the Nigerian government

Legit.ng journalist Nurudeen Lawal has 8 years of experience covering Presidential Administrations

FCT, Abuja - The Nigeria Labour Congress (NLC) says it will ensure that the next national minimum wage to be negotiated in 2024 reflects the cost of living in the country.

The NLC president, Joe Ajaero, said this while addressing participants at the opening of the 19th edition of the union's Harmattan School in Abuja.

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Ajaero, represented by NLC deputy president Benjamin Anthony, lamented that life has become extremely unbearable for workers since the removal of fuel subsidy by the federal government, Thisday reported.

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Speaking further, Ajaero said governments at all levels must recognise that living conditions have become exceedingly difficult, especially for formal and informal workers.

“We must reckon that a well-motivated and well-remunerated workforce has a positive impact on productivity and national development," he said.

“As we anticipate the commencement of negotiations for the national minimum wage in 2024, we seek the understanding of all stakeholders to ensure that we use this opportunity to arrive at a minimum wage commensurate with the prevailing cost of living."

New minimum wage: Ajaero reveals NLC's goal

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Ajaero also said that the NLC's ultimate goal in negotiating a new minimum wage was to establish a living wage.

According to the NLC president, the living wage must cover the cost of living and make allowance for some savings by the workers.

FG announces date to begin payment of new minimum wage

Earlier, Legit.ng reported that President Bola Tinubu-led federal government said that the new minimum wage for Nigerian workers would commence from April 1, 2024.

Idris Mohammed, the minister of information and orientation, disclosed the development in an interview, adding that the current minimum wage of N30 thousand would cease to exist from March 2024.

This is coming as the analysis of the 2024 –2026 Fiscal Framework budgets showed that Tinubu's administration planned to spend N24.66tn on salaries in 2024, 2025, and 2026.

Source: Legit.ng