“Tinubu Agreed to N250k Minimum Wage If Petrol Price Is Increased,” Says NLC President Ajaero

In a recent revelation, Joe Ajaero, President of the Nigeria Labour Congress (NLC), stated that President Bola Tinubu was willing to endorse a N250,000 minimum wage proposal on the condition that the pump price of petrol would be increased. Ajaero made this statement during an interview with Channels Television on Thursday.

The NLC President highlighted that the labour leaders unequivocally rejected the president’s condition, arguing that it would aggravate the current economic hardship experienced by Nigerians.

Following this negotiation, President Tinubu approved a new minimum wage of N70,000 for workers. This decision was made public after a meeting at the State House in Abuja, attended by Ajaero, Festus Osifo, President of the Trade Union Congress (TUC), and Nkeiruka Onyejeocha, Minister of State for Labour.

The federal government is preparing to present a minimum wage bill to the national assembly next week. Ajaero explained that the labour leaders accepted the N70,000 offer due to additional benefits and a three-year review period included in the proposal.

“Accepting N70,000 was the best way to make sure that we save Nigerians from further hardship,” Ajaero said.

Providing further details, Ajaero recounted, “At the last meeting, the president brought a proposal that ‘I will give you guys N250,000 if you allow me to equally increase the pump price of petroleum products,’ and we said no, that we need to go and consult. Today, we went there to tell him ‘no’ and that the labour movement can make sacrifices without allowing Nigerians to suffer further on the increase of pump price of petroleum products.”

Ajaero also noted that the current minimum wage regime expired on April 18, 2024, and assured that the government would pay arrears once the new wage system is in place.

Background

In recent months, negotiations involving the federal and state governments, organized labour, and the private sector have focused on establishing a new minimum wage. Initially, labour unions proposed figures of N615,500 and N494,000, reflecting inflation and economic pressures. The federal government countered with N62,000, which was rejected.

Labour unions maintained that N250,000 was necessary as a living wage, but the government urged for a more realistic and sustainable figure. Eventually, the tripartite committee agreed on N70,000 as the new minimum wage.