Business News

FCT chapter of NLC proposes N709,000 monthly as new minimum wage 

The Federal Capital Territory (FCT) chapter of the Nigeria Labour Congress (NLC) has recommended a new minimum wage of N709,000 for Nigerian workers. 

During the North Central Zonal Public Hearing conducted by the Tripartite Committee on the National Minimum Wage, Dr. Stephen Knabayi, the NLC FCT Chairman, presented this proposal in Abuja on Thursday. 

At the North Central zone’s hearing, over 15 organizations came forward to make their submissions to the council. 

During his presentation, Knabayi mentioned that the proposed wage was carefully considered in light of the current economic conditions, aiming to alleviate the financial strain and improve the living standards of Nigerians. 

On his part, the leader of the Trade Union Congress (TUC) FCT chapter, Mr Amaege Chukwudi, recommended a monthly minimum wage of N447,000 stating that the current economic hardship has turned many Nigerian workers into beggars.  

The federal government had earlier inaugurated a tripartite committee to negotiate a new minimum wage for Nigerian workers following the fuel subsidy removal and the increased cost of living.  

Members of the tripartite committee are currently holding public hearings across the six geopolitical zones with workers, civil society groups, private sector players, government officials etc.  

The Chairman of the Nigerian Labour Congress (NLC) had earlier stated that the new minimum wage should be  N1 million considering the increased inflation rate in the country, devaluation of the naira and other macroeconomic conditions.