In a statement made via its official X (formerly Twitter) handle, the Vanguard Newspaper highlighted a bold declaration by the Nigeria Labour Congress (NLC), stating that the recent surge in petrol prices has effectively rendered the proposed N70,000 minimum wage useless.
The NLC expressed deep concerns over the economic reality faced by millions of Nigerian workers, as the skyrocketing cost of fuel—an essential driver of inflation—continues to erode the purchasing power of citizens. According to the union, while the government’s decision to raise the minimum wage was initially celebrated as a step toward easing the financial burden on workers, the relentless increase in fuel prices has negated any potential relief.
“The N70,000 minimum wage is no longer sufficient to meet basic living costs due to the exorbitant cost of petrol,” the NLC stated, emphasizing that transportation and food prices, driven by the fuel hike, have surged beyond manageable levels. The union further warned that the continued hardship might fuel unrest if the government fails to address the critical issue.
With the Nigerian economy grappling with the aftermath of fuel subsidy removal, the NLC’s outcry highlights the pressing need for comprehensive economic reforms that safeguard the welfare of ordinary citizens, especially those at the lower end of the income scale. The Congress urged the government to take immediate action to stabilize fuel prices, or consider a more meaningful adjustment to the minimum wage to reflect current realities.
As the country awaits a response from the federal government, this unfolding saga between rising fuel costs and wage adjustments remains a matter of great concern to both workers and policymakers alike.
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