The Nigeria Labour Congress has said that a monthly salary of ₦1 million would offer little real value to workers if the naira remains unstable and inflation continues to erode purchasing power.

NLC President Joe Ajaero made the remarks in an interview with the News Agency of Nigeria in Abuja, stressing that organised labour is more concerned about the strength of the currency than nominal wage increases.

He said rising inflation and the high cost of living have made it increasingly difficult for workers to meet basic needs such as food, transport and housing.

“Even if Nigerian workers earn ₦1 million, it will not be meaningful if the naira has no value,” Ajaero said. “What we are looking for is a currency that can sustain workers and their families at least to the end of the month.”

Ajaero noted that discussions around a new national minimum wage must follow due process, adding that wage reviews are governed by law and tied to specific timelines.

“The minimum wage has not been negotiated yet. It is a process that must follow the law. When it is time, we will commence negotiation ahead of its expiration,” he said.

He added that the labour union would initiate talks within the stipulated period and cautioned against rushing the process due to political considerations.

The NLC president called for urgent government intervention to address inflationary pressures, warning that the current economic climate has worsened hardship for workers across the country.

He said the surge in fuel prices has had a ripple effect on transportation costs, food prices and overall living expenses.

“We raised concerns when global developments began to impact fuel prices locally, and we called for intervention. The situation has not improved, and the burden on workers continues to increase,” he said.

Ajaero also urged the government to develop a more resilient energy policy that would shield the economy from external shocks.

“It is not ideal that events in other parts of the world automatically translate into hardship in Nigeria. We must build a system that protects our economy and citizens,” he added.

On pension matters, he expressed concern over the emergence of multiple pension unions, which he said has created confusion within the system. He noted that the congress is engaging stakeholders to clarify the situation and ensure proper coordination, particularly regarding deductions and remittances.

Speaking on the forthcoming Workers’ Day, Ajaero said any protests would be limited to states that have not fully implemented the approved minimum wage.

“Street protests, if any, will be in states that have not complied with the minimum wage implementation. It is not a general protest across the country,” he said.

He acknowledged that most states have complied but noted gaps in implementation at local government levels and within the education sector, as well as issues with consequential salary adjustments.

Ajaero reiterated the NLC’s commitment to advocating policies that improve workers’ welfare and economic stability, while also commending the federal government for reviewing peculiar allowances and approving a 100 per cent duty tour allowance for civil servants, expressing hope for effective implementation.