In a recent interview with ARISE NEWS, Joe Ajaero, the president of the National Labour Congress (NLC), disclosed that President Bola Ahmed Tinubu presented an ultimatum to the organized labor: accept N62,000 or receive N250,000 as the minimum wage, coupled with an increase in fuel prices.President Tinubu offered two options to the labor representatives:Option : Accept N62,000 as the minimum wage.

Option 2: Receive N250,000 as the minimum wage, but allow an increase in the pump price of petroleum products.

After careful consideration, the labor representatives rejected the second option. They believed that attaching fuel price conditions to the wage increase would be too selfish. Instead, they opted for N70,000 as the new minimum wage, which represents a 133% increase from the old rate.

Ajaero emphasized that the N70,000 wage broke the pattern of negotiating every five years. The labor movement had pushed for a two-year review, but President Tinubu settled on a three-year interval.

This development highlights the complexities of balancing wage demands with economic realities and fuel subsidies. The NLC’s decision reflects their commitment to fair wages while considering broader implications for citizens and the economy.

Joe-Ajaero