Why proposed N200, 000 minimum wage is no longer realistic — NLC.

 The Nigerian Labor Congress, NLC, has said the N200, 000 minimum wage it earlier proposed to the Federal Government is no longer realistic considering Nigeria’s current economic situation. NLC Vice President, Tommy Etim, spoke while reacting to Tuesday’s inauguration of the Minimum Wage Committee by Vice President Kashim Shettima. Shettima inaugurated the committee at the Presidential Villa in Abuja. However, Etim said: “You are aware that when we opted for the N200, 000, the socio-economic challenges were not as biting as they are now. And when you now look at the exchange rate, it was not what it is now. The naira rate has not been devalued as it is now. So, N200, 000 is no longer tenable. We are not going there with a fixed amount, but definitely not N200, 000. By the time we get there, we will decide based on the socio-economic situation. That’s what we are going to base our national minimum wage discussion and negotiation on.”