Why We Accepted N70,000 Minimum Wage – Ajaero

President of the Nigeria Labour Congress (NLC), Mr. Joe Ajaero, recently disclosed details of the discussions between organized labour and President Bola Tinubu that led to the acceptance of a N70,000 minimum wage during the national wage negotiations at the Presidential Villa in Abuja.

Speaking during an interview, Ajaero explained that the organized labour initially resisted any fuel price increase but ultimately agreed to the N70,000 minimum wage.

He further revealed that the NLC and its allies had previously reached an agreement with the government on the adoption of Compressed Natural Gas (CNG) as an alternative fuel.

They negotiated with a team of experts who agreed to convert vehicles to CNG at a cost of N300,000. However, when the proposal was presented to the government, officials dismissed the deal and instead set the conversion cost at N800,000.

During the negotiations, the organized labour had initially demanded N250,000 as the new minimum wage but eventually settled for N70,000. Addressing claims that President Tinubu breached their agreement by raising the petrol pump price, Ajaero shared that the President had urged the labour leaders to support the fuel price increase in exchange for a N250,000 minimum wage, a proposition they declined.

Ajaero emphasized that the basis for accepting the N70,000 minimum wage was to avoid any immediate hike in fuel prices. He stressed that the President’s action of increasing the petrol price has significantly affected the cost of living, particularly in terms of transportation, which now has risen by over 70%. He called for a reversal of the decision, highlighting the need for proper consultation with social partners before implementing such policies.

He concluded by stating that the current situation has increased the hardships faced by Nigerians, urging the government to focus on alleviating the suffering of its citizens rather than imposing further economic burdens through increased taxes, fuel prices, and other levies.