The N200,000 minimum wage earlier proposed to the Federal Government was no longer realistic considering Nigeria’s current economic situation, the Nigerian Labour Congress, NLC, has said.
Tommy Etim, the NLC Vice President, made this known while reacting to Tuesday’s inauguration of the Minimum Wage Committee by Vice President Kashim Shettima.
The Informant247 had earlier reported that Vice President Kashim Shettima, on Tuesday, inaugurated the 37-member panel at the Council Chamber of the State House in Abuja.
The panel, with its membership cutting across federal and state governments, the private sector, and organised labour, is to recommend a new national minimum wage for the country.
However, Etim 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.”