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Nigeria Labour Congress (NLC) President Joe Ajaero has explained why he believes introducing a ₦1,000,000 minimum wage could lead to the collapse of the Nigerian economy.

Ajaero made this known during an interview with Channels Television on Thursday.

He explained that although the NLC and the Federal Government were discussing a possible review of the minimum wage, the priority should be to lower the cost of living and improve the purchasing power of the naira.

The labour leader emphasised that the government needed to tackle the major factors responsible for rising living expenses while taking steps to strengthen the value of the country’s currency.

” N1,000,000 minimum wage will collapse the Nigerian economy,” he stated.

His remarks come after the Federal Government recently approved a ₦70,000 transport allowance for workers as fuel prices continue to rise and the cost of living remains high.

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