Inflationary Trend: NLC Urges FG To Consider Annual Review Of Minimum Wage
Nigeria Labour Congress (NLC) has asked the Federal Government to consider annual review of national minimum wage because of inflationary trend and value of Naira.
The NLC President, Mr Joe Ajaero, made the call in Abuja at the 2nd National Labour Adjudication and Arbitration Forum, organised by the National Employers Consultative Association (NECA).
The theme of the forum is “Strengthening Tripartitism and Social Dialogue (including alternative Dispute Resolution Mechanisms) for a Sustainable Industrial Relations System in Nigeria.”
The NLC President maintained that government should have a rethink on the five year cycle of minimum wage because it was not favourable to Nigerian workers.
He observed with regrets that no matter the amount negotiated, it would have been eaten up by inflation before the end of the five year cycle.
Ajero stressed, “There is a need to tinker with the law providing for five yearly renegotiation of national minimum wage to allow for yearly adjustment of wages based on the rate of inflation and value of the Naira.
“This is important because people have been coming up to say that if we increase salaries, it will affect inflation.
However, we cannot leave salary to be constant while other variables continue to grow,” he said.
Ajaero said workers were displeased with the poor implementation of the N35,000 wage award by the federal government.
The NLC president added that most federal government workers were yet to receive their January salary.
He, therefore, called on the government to expedite the implementation of the 16 points agreement reached with organised labour to cushion the effects the fuel subsidy removal.
In her speech, the Minister of State for Labour and Employment, Mrs Nkeiruka Onyejeocha, commended NECA for collaborating with the National Industrial Court of Nigeria (NICN) to organise the forum.
She said the forum would foster dialogue among stakeholders and promote peaceful industrial relations.
The Chairman, Senate Committee on Employment, Labour and Productivity, Sen. Dike Plang said event was apt and critical to the sustainable industrial relations in Nigeria.
The lawmaker assured that the National Assembly would ensure comprehensive review and amendment of existing labour laws to conform to international labour standards.
He also commended President Bola Tinubu for constituting the tripartite committee on the review of minimum wage for workers.
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