The Organised Labour has called for the annual review of Nigeria’s ₦70,000 minimum wage to reflect inflation trends, arguing that adjusting the wage every few years is no longer viable in light of the country’s economic conditions.

Trade Union Congress (TUC) President Festus Osifo made this call during an appearance on Channels Television’s Politics Today on January 1, 2025. He stated that linking the minimum wage to annual inflation rates would better reflect its real value.

“What we are pushing for is an annual adjustment based on inflation figures,” Osifo explained. “Instead of waiting five years to increase the minimum wage, why not reflect annual inflation rates to maintain its real value?”

Osifo pointed out that the National Bureau of Statistics (NBS) would release the inflation data for December 2024 in mid-January, providing a useful benchmark for the adjustment. For example, if the inflation rate is 35%, this would be applied to the ₦70,000 minimum wage, increasing it to a figure that matches its true value. The same process would be repeated annually.

This proposal builds on discussions initiated in 2024, following the agreement between the Federal Government and labour unions that raised the minimum wage to ₦70,000—five years after the previous ₦30,000 threshold.

Labour unions have continued to argue that ₦70,000 is insufficient given the rising cost of living, especially due to energy price hikes and the removal of fuel subsidies. Osifo stressed the need for a “decent living wage” to align with workers’ purchasing power amid ongoing economic challenges.

The unions are set to advocate for systemic, inflation-based adjustments throughout 2025, aiming to ensure that workers’ earnings remain in line with the cost of living.