NLC: ₦1M Salary Worthless Without Stable Naira
Analysis based on 13 articles · First reported Apr 28, 2026 · Last updated Apr 28, 2026
The statements from the Nigeria Labour Congress (NLC) highlight significant economic instability in Nigeria, particularly concerning the Nigeria — Nigerian naira's value and high inflation. This could lead to increased pressure on the Nigerian government for policy changes, potentially affecting investor confidence and the broader Nigerian economy.
The Nigeria Labour Congress (NLC), through its President Joe Ajaero, has declared that a monthly salary of ₦1 million is worthless to Nigerian workers without a stable Nigeria — Nigerian naira and improved economic conditions. The NLC is primarily concerned with the erosion of workers' purchasing power due to rising inflation and fuel prices, which have increased the cost of living. Joe Ajaero emphasized that negotiations for a new national minimum wage must follow legal procedures and cannot be rushed. The NLC has called for urgent government intervention to address inflation and develop a resilient energy policy to protect Nigeria from external shocks. Additionally, the NLC is addressing confusion caused by multiple pension unions and clarified that any upcoming Workers' Day protests would be limited to states that have not fully implemented the approved minimum wage.
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