₦1m salary useless without stable Naira – NLC
The Nigeria Labour Congress says a monthly salary of 1 million naira is meaningless for workers without a stable currency and better economic conditions. NLC President Joe Ajaero said this in an interview in Abuja, stressing that workers are more concerned about the real value of their income than the figures on paper. Ajaero explained that rising inflation and the continuous fall of the naira have sharply reduced the purchasing power of workers. He noted that many employees struggle to afford basic needs such as food, transport, healthcare and housing, regardless of how high their nominal salary appears. According to him, what matters is not just wage increases but policies that can strengthen the naira and bring down the cost of living. He argued that without price stability and a stronger currency, even a 1 million naira monthly wage will […]