NLC Chairman Calls for Early Review of Minimum Wage Amid Rising Cost of Living

The Chairman of the Nigeria Labour Congress, NLC, Mr Alex Agwanwor, has called for an early review of Nigeria’s national minimum wage, citing the rising cost of living and declining purchasing power of workers.
Speaking on Trade FM, Agwanwor said the current minimum wage is due for review after three years, with the agreed period expected to elapse by December. He stressed the need for discussions to begin early to ensure that a new wage structure is agreed upon and implemented by January.
The NLC chairman said the economic situation has changed significantly since the current minimum wage was approved, particularly following increases in fuel prices and the rising cost of goods and services. According to him, the current wage has been eroded by inflation, leaving many workers struggling to meet basic household expenses.
Agwanwor said workers are increasingly forced to borrow money to survive from one month to another, as salaries are no longer sufficient to cover expenses such as food, transportation and housing. He therefore urged the government, labour and other stakeholders to work together towards establishing a living minimum wage that reflects current economic realities and enables workers to maintain a reasonable standard of living.
On concerns that an increase in the minimum wage could worsen inflation, the NLC chairman disagreed, arguing that higher wages would primarily improve the purchasing power of Nigerian workers. He identified increases in fuel prices and associated production and transportation costs as major factors influencing the prices of goods and services.
Agwanwor also maintained that the minimum wage is a statutory requirement that applies to both public and private sector employers. He said employers should comply with the law and stressed that the implementation of a revised minimum wage should not be undermined by companies or organisations.
He further argued that many companies already factor labour costs into their budgets when bidding for contracts, insisting that an increase in the minimum wage should not automatically translate into higher prices. According to him, improving workers’ earnings would strengthen purchasing power and contribute to better living standards.