The organised labour has said that the cost of virtually all consumables in Nigeria has been on the rise stressing that if this should continue; any amount of money that would be added to the minimum wage might not meet the expectations of workers.
The NLC and TUC spoke against the backdrop of the disclosure by the Minister of Labour and Employment Chris Ngige that the Federal Government would soon announce salary increments for civil servants and public officials due to the steady increase in prices of consumer goods.
Nigeria’s headline inflation has continued to rise this year hitting a new high of 21.47 per cent in November 2022 from 21.09 per cent in October 2022 according to the Consumer Price Index report released by the National Bureau of Statistics this month.this was the highest rate in about 17 years.
According to the NBS, the reason for the increase year-on-year was the increase in the cost of importation due to the persistent currency depreciation and a general increase in the cost of production, including an increase in energy cost.
The World Bank recently said Nigeria might have one of the highest inflation rates globally in 2022 with increasing prices diminishing the welfare of Nigerian households.
reacting to the planned salary review, the Deputy President NLC, Joe Ajaero said that government, employers and labour unions must meet to review the minimum wage before any hike could be considered.
Speaking with our correspondent in Abuja, the TUC Secretary-General, Nuhu Toro, stressed the need for the government to address the devaluation of the naira and rising inflation, while also reiterating the imperative of regulating the cost of goods and services. PUNCH