The President of the Nigeria Labour Congress, Joe Ajaero, has defined why a N1,000,000 minimum wage would collapse the Nigerian economy.
He disclosed this throughout an interview on Channels Television on Thursday.
Ajaero stated that whereas the NLC and the Federal Government had been in talks over a minimum wage evaluate, the true problem was to scale back the price of residing and enhance the buying energy of the nation’s forex.
Ajaero careworn that the federal government should first deal with the underlying components driving the excessive price of residing and strengthen the buying energy of the nation’s forex.
“N1,000,000 minimum wage will collapse the Nigerian economy,” he said.
His feedback come because the Federal Government lately permitted a N70,000 transport allowance for employees amid rising gas costs and the growing price of residing.
