Why We Agreed To N70,000 Minimum Wage Amid Petrol Price Hike

President of the Nigeria Labour Congress (NLC), Joe Ajaero, detailed the NLC’s reasoning behind accepting a N70,000 minimum wage offer during a recent interview on Arise Television’s Morning Show.

Ajaero explained the decision occurred amid discussions with President Bola Tinubu at the Presidential Villa, Abuja, where the NLC turned down further fuel price increases while negotiating the wage agreement.

Ajaero highlighted that despite organised labour’s initial push for a N250,000 minimum wage, they ultimately accepted N70,000 after negotiations reached a deadlock.

“While we were discussing, we stalemated at N62,000, even the states were saying they wouldn’t pay,” Ajaero shared.

“We insisted on N250,000, but President Tinubu expressed his intent to increase fuel prices if the labour endorsed it, offering to meet our demand if agreed.”

In addition to the wage negotiations, the NLC leader also addressed the government’s stance on Compressed Natural Gas (CNG) vehicle conversion rates.

Initially, the labour body had agreed with experts to convert vehicles at N300,000. However, according to Ajaero, government officials later presented an N800,000 cost, causing further tensions.

When asked if President Tinubu had “betrayed” labour’s trust by raising petrol prices, Ajaero avoided direct accusation, noting, “I have to narrate the scenario… then we now choose the appropriate word, whether it is betrayed, deceit, or whatever.”

The NLC ultimately accepted the N70,000 minimum wage, having clarified that labour was solely focused on wages and not on any fuel price increase mandate, marking a compromise amidst ongoing economic challenges.