The President of the Nigeria Labour Congress, NLC, Joe Ajaero, has bemoaned the inflationary trend in the country, suggesting that the Federal Government should devise a mechanism for the yearly review of wages, especially the national minimum wage….CONTINUE READING
At the National Employers Consultative Association’s (NECA) 2nd National Labour Adjudication and Arbitration Forum in Abuja yesterday, Ajaero made this declaration.
“No matter what amount you negotiate in the present Nigerian economy, in the next five years, it can’t buy a bag of rice,” stated the President of the NLC, speaking about the impact of galloping inflation on the earnings of Nigerian workers.
The statute allowing for five yearly renegotiations of the national minimum wage needs to be tweaked in order to allow for an annual adjustment of salaries depending on the rate of inflation and the value of the naira.
According to Daily post, Ajaero added that no one is paying the N35,000 that was agreed upon a year ago, expressing the workers’ dissatisfaction with the government’s inadequate wage award execution.
