Effective October 9, the Nigeria Labour Congress (NLC) has issued a two-week ultimatum to the Federal Government, demanding immediate talks on a new national minimum wage and a reduction in petrol prices, or face potential industrial action.
The decision was reached during a joint meeting of the union’s National Executive Council (NEC) and Central Working Committee (CWC) in Abuja.
The NLC insisted that wage renegotiations must begin before the end of October, citing severe currency depreciation and soaring living costs that have eroded current earnings.
Adding to the pressure, the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) called on the government to urgently implement policies addressing the country’s worsening economic hardships and security challenges, particularly the rising costs of food, transit, housing, healthcare, and education.
It also demanded that petrol prices be reduced to the level prevailing when the present national minimum wage was signed into law in 2024, saying the high cost of Premium Motor Spirit (PMS) had triggered increases in transportation, food and other essential commodities.
In a communiqué issued after the meeting and signed by the NLC President, Joe Ajaero, a copy of which was sent to PerSecondNews, the union said the ultimatum was necessary because workers could no longer cope with the worsening economic conditions.
The NLC said: “The current national minimum wage has been rendered worthless by the relentless depreciation of the naira and the astronomical rise in the cost of living,” adding that workers could no longer afford basic necessities, including food, shelter, healthcare, transportation and education.
It therefore demanded a “living wage that reflects the true cost of living and the dignity of the Nigerian worker,” insisting that any further delay in opening negotiations was unacceptable.
On petrol prices, the congress said the Federal Government must work with relevant agencies to immediately bring down the pump price, accusing the government of allowing “indiscriminate hikes” in petroleum products.
Beyond the wage and petrol price demands, the NLC directed the government, within the two-week period, to implement the terms of settlement reached with the Joint Health Sector Unions and Assembly of Healthcare Professionals (JOHESU) on February 5, 2026, and to address new demands arising from the agreement.
It also demanded the implementation of the Joint Public Sector Negotiating Council (JPSNC) ‘s demands.
Acting National President of ASSBIFI, Fanimokun Adesina, at the commemoration of the 2026 World Day for Decent Work, held on Wednesday at the ASSBIFI Events Centre, Alausa, Ikeja, Lagos, described as unacceptable a situation where the national minimum wage could not adequately meet workers’ basic needs, stressing that workers deserved to be treated with dignity.
He said: “A situation whereby the national minimum wage cannot buy a bag of rice or provide three square meals for an average Nigerian family of four for two weeks is nothing but slavery. Workers are not slaves; we must be treated with the dignity that decent work reflects.”
Calling the theme ‘Young Workers Organising for the Future’ highly relevant, Adesina highlighted its focus on resolving leadership and continuity risks across Nigerian trade unions and the global labor market.
“The future of work is no longer in the future; it is here. It is defined by Artificial Intelligence (AI), digitalisation, automation, platform economy, Algorithm Management, outsourcing, among other evolving workplace technologies.”
He urged corporate employers across the banking and insurance sectors to honour workers’ legal right to unionize without fear of reprisal, reminding them of obligations under ILO Conventions on Freedom of Association (No. 87), Collective Bargaining (No. 98), and Termination of Employment (No. 158).