The President of the Nigeria Labour Congress (NLC), Joe Ajaero, has warned that increasing Nigeria’s minimum wage to ₦1 million without first addressing the rising cost of living could have serious consequences for the country’s economy.
Speaking during an interview on Channels Television on Thursday, Ajaero said discussions between organised labour and the Federal Government should go beyond demands for higher salaries, stressing that the real priority should be making life more affordable for ordinary Nigerians.
According to him, increasing workers’ wages alone will not solve the economic hardship facing millions of Nigerians if the prices of food, transportation, housing and other essential goods and services continue to rise.
He maintained that the government must focus on tackling inflation, reducing the cost of living and strengthening the purchasing power of the naira to ensure that workers can afford basic necessities with their earnings.
Ajaero warned that raising the minimum wage to such a high level without addressing these underlying economic challenges could worsen the situation rather than provide meaningful relief to workers.
“₦1,000,000 minimum wage will collapse the Nigerian economy,” he stated.
His remarks come amid growing public concern over Nigeria’s economic situation, as rising prices continue to put pressure on households and leave many workers struggling to meet their daily needs.
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