Politics

Nigerian Government Announces Period For Next Minimum Wage Increase

Published by Tope Fakinlede on January 10th, 2025.

Nigerian Government Announces Period For Next Minimum Wage Increase

The Nigerian government has revealed plans to review the minimum wage every three years, reducing the previous interval of five years. This announcement was made by the Minister of State for Labour and Employment, Nkeiruka Onyejeocha, on Thursday during an event in Abia State.

Onyejeocha explained that this decision aligns with President Bola Tinubu’s pledge to Nigerian workers, ensuring a more regular assessment of the minimum wage. “The review period will no longer stretch to five years; instead, we will review the minimum wage in less than two years,” she stated.

This move follows calls from the Trade Union Congress for an annual adjustment of the minimum wage to keep pace with economic challenges like inflation.

Last year, President Tinubu had approved a N70,000 minimum wage, promising to review it every three years. However, the country’s high inflation rate, which reached 34.60% in November 2024, has influenced the effectiveness of the wage increase.