The Nigeria Labour Congress (NLC) has stated that even a monthly income of ₦1 million cannot guarantee a decent standard of living if the naira continues to lose value and inflation remains unchecked.
The labour union expressed concern over the worsening economic situation in the country, noting that the rapid decline in purchasing power has made wages increasingly insufficient for many Nigerian workers.
NLC President Joe Ajaero explained that the real issue is not just salary increases, but the stability of the national currency, which determines how far incomes can go in meeting basic needs.
He said that despite periodic wage reviews, workers still face severe hardship due to rising prices of food, transport, rent, and other essential goods and services.
According to him, the combination of inflation, fuel price adjustments, and broader economic instability has continued to erode the value of earnings across the country.
The NLC called on the federal government to take urgent steps to stabilise the naira and implement stronger economic policies aimed at reducing inflation and improving living conditions.
It warned that without meaningful reforms, salary increments alone will not resolve the financial pressures facing Nigerian workers.
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