The Presidency says plans are underway to review Nigeria’s ₦70,000 national minimum wage, acknowledging that the current figure may no longer be sustainable under prevailing economic conditions.
The Presidency has signalled a fresh review of Nigeria’s ₦70,000 national minimum wage, saying the current benchmark may no longer be sustainable in light of present economic realities.
The position marks a new phase in the conversation around workers’ pay, less than two years after President Bola Tinubu approved the ₦70,000 minimum wage with a promise that it would be reviewed after three years instead of five. Recent labour pressure around the cost of living and the declining value of wages has kept the issue active, and the latest signal from the Presidency suggests that a reassessment is now being considered.
The significance of the development lies not only in the figure itself but in the acknowledgement that the current wage benchmark is under strain. At a time when inflation and cost-of-living pressures continue to shape household realities, the question is no longer simply what the minimum wage is, but whether it still meets the conditions under which it was introduced.
While no new wage figure has been officially announced in the material reviewed, the Presidency’s position indicates that a review process is underway. That leaves the issue at a transitional stage — one in which the current wage remains in place, but the framework around it is clearly being revisited.
For now, the official position is that the ₦70,000 minimum wage is under review, with the Presidency acknowledging that the existing benchmark may no longer be sustainable.