FG Signals Fresh Review of N70,000 Minimum Wage as Living Costs Rise

The Federal Government has indicated that it is preparing to commence another review of the national minimum wage, acknowledging that the current N70,000 benchmark may no longer be sufficient in light of Nigeria’s prevailing economic conditions.

The indication comes less than two years after President Bola Tinubu approved the N70,000 minimum wage, replacing the previous N30,000 salary floor and introducing a three-year review cycle instead of the former five-year interval.

Speaking on Thursday at the Good Governance Summit 2026 organised by Working People United (WoPU) in Abuja, the President’s Chief of Staff, Femi Gbajabiamila, said the administration remained committed to ensuring that workers’ wages reflect the country’s economic realities.

He recalled that the Tinubu administration had significantly increased workers’ pay in 2024 while also creating a framework for more frequent reviews.

“This administration has delivered a new national minimum wage. In July 2024 President Bola Tinubu signed into law a minimum wage of N70,000 naira, with more than double the N30,000 naira that workers had endured for years and recognising that the cost of living does not stand still, the President reduced the strategic review cycle from five years to three years, so that wages may keep closer pace with economic reality.”

Gbajabiamila noted that although the current wage represented a landmark achievement when it was introduced, changing economic realities now make another assessment necessary.

“The N70,000 wage, which was a milestone in 2024 must be honestly reassessed against today’s realities, and I can confirm to you that when the time comes to begin the process of reviewing the national minimum wage, this administration will approach that endeavour not as an adversary of labour, but as a partner,” she said.

He also appealed to organised labour to continue engaging constructively with government, maintaining that sustained dialogue and collaboration would produce better outcomes for workers than prolonged disputes.

Also addressing participants at the summit, the Minister of Labour and Employment, Muhammad Dingyadi, stressed that the success of any government should ultimately be judged by the impact of its policies on the lives of workers.

He argued that governance must extend beyond policy formulation to tangible improvements in employment, productivity, social welfare and economic opportunities.

“Governance is not merely about policies written in documents or programmes announced from government offices, the true measure of governance is the extent to which policies translate into improved livelihoods, decent work, increased productivity, social protection, economic opportunities, and dignity for the working people,” the Minister said.

Earlier, the National Coordinator of Working People United, Williams Akporeha, described Nigerian workers as the driving force behind the country’s economic growth and national development.

According to him, “There’s no economy without the working people, there’s no productivity without the working people, and there’s no national development.”

Akporeha said the summit provided a unique platform for workers from various sectors of the economy to unite, exchange ideas and strengthen collective efforts aimed at advancing national development while improving the welfare and well-being of Nigerian workers.