THE Nigeria Labour Congress (NLC) would soon se the machinery in motion to arrive at a new minimum wage that is sustainable, its President, Ayuba Wabba has said.

In his Independent Day address entitled, ‘Building Stronger Institutions for a Stronger Nigeria’, Wabba said apart from a clause which makes the present minimum wage negotiable after five years, the inflationary trend of the economy as well as the devaluation of the Naira has rendered the present pay package grossly inadequate.

The N18, 000 minimum wage is five years old. In view of the fact that we have a five- yearly minimum wage review arrangement, we believe a new minimum wage is legally due. But more compelling than this is the fact that a combination of progressive inflation and the massive devaluation of the Naira have undermined every conceivable benefit of the N18, 000. Therefore, we would want to use this opportunity to sound a notice for the commencement of the process for a review.”

While commending President Buhari on the bailout for state governments to pay salaries, Wabba urged the President to ensure governors use the money for the purpose it is meant.
“We note however, that the enthusiasm and commitment shown on this matter by the Council of State and Mr. President has been lacking in some states as governors rather than pay salaries and pensions, have elected to play politics with the welfare of their workers with some of them quoted as saying that they reserve the right to do what they like with the intervention fund from the federal government since it is a loan,” he said.

The NLC boss decried the non-payment of pensions at state and local governments levels, saying, “because they operate defined benefit pension system which often times is not funded. And even when it is funded, the governors and their cohorts help themselves to these funds because they are exposed.”
NLC declared that any state governor that fails to pay workers salaries and pension would face the wrath of the working class.

The NLC helmsman expressed fears that there are also strong speculations that the economy might run into a recession next year for reasons not unconnected with sluggish growth in two consecutive quarters.

In light of the uncomforting scenario, NLC urged government to do a re-think on how to fix the economy through robust macro-economic, civil, accountable and people-oriented policies that are capable of addressing our dependency syndrome.

Wabba, who lamented the downward slide of oil prices in the international market, called for the passage of the Petroleum Industry Bill (PIB) to bring about probity and guarantee Nigeria reaps maximally from her mineral deposits.