The Nigeria Labour Congress (NLC) has announced plans to demand a Cost of Living Allowance (COLA) for workers, citing the inadequacy of the current ₦70,000 minimum wage in addressing the escalating economic hardships faced by Nigerians.
NLC President, Joe Ajaero, highlighted that during the minimum wage negotiations, the unions aimed for a wage structure that would adjust in line with inflation and cover essential living expenses. However, the government team lacked a comprehensive plan to address these concerns. Despite accepting the ₦70,000 minimum wage under the condition that fuel prices would remain stable—a promise that was later broken—the real value of the wage has been significantly eroded by inflation.
Ajaero emphasized that the cessation of previously provided wage reliefs has further strained workers’ financial stability. He asserted that the NLC is justified in its pursuit of a COLA to mitigate the current economic challenges and restore workers’ purchasing power.