The Nigeria Labour Congress (NLC) has called for a new national minimum wage of ₦500,000, saying the current ₦70,000 wage is no longer enough to meet workers’ basic needs.

The labour union said it would soon commence negotiations with the Federal Government for a review of the minimum wage.

NLC President Joe Ajaero, represented by Deputy President Audu Titus Amba, disclosed this on Thursday at the Rights of Workers Summit in Birnin Kebbi.

Ajaero urged Nigerian workers to prepare for the upcoming negotiations, citing the rising cost of living and persistent inflation.

He said anything below ₦500,000 would not adequately cater for the needs of workers under the prevailing economic conditions.

The Trade Union Congress (TUC) also expressed concern over the declining purchasing power of Nigerian workers.

TUC President Festus Osifo, represented by Secretary-General Nuhu Toro, said rising food prices, transportation costs, rent and inflation had made the current wage increasingly inadequate.

The Federal Government increased the national minimum wage from ₦30,000 to ₦70,000 after President Bola Tinubu signed the new wage bill into law on July 29, 2024.

The law, which followed negotiations with organised labour, provides for a review of the minimum wage structure every three years.