FG Acknowledges Biting Cost of Living, Signals Fresh Review of N70,000 Minimum Wage

The Federal Government has officially acknowledged that the current N70,000 national minimum wage is no longer sufficient given the rising cost of living and has signalled a fresh review of the benchmark.

The announcement was made by the Chief of Staff to the President, Femi Gbajabiamila, on Thursday during the Good Governance Summit 2026 organised by Working People United in Abuja.

Gbajabiamila noted that while the N70,000 wage signed into law by President Bola Tinubu in July 2024 more than doubled the previous N30,000 rate, the administration recognises that economic conditions have continued to evolve.

He recalled that President Tinubu had reduced the wage review cycle from five years to three years specifically to allow for more frequent adjustments.

“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,” Gbajabiamila stated.

The Chief of Staff urged organised labour to sustain dialogue with the government, stressing that cooperation would produce better outcomes for workers and the economy than confrontation.

He maintained that both sides share a responsibility to protect workers while ensuring economic stability.

Also speaking at the summit, the Minister of Labour and Employment, Muhammad Dingyadi, said the true measure of governance lies in the impact of policies on citizens’ lives. “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,” Dingyadi said.

The announcement comes as organised labour has already signalled its intention to push for a “genuine living wage” for Nigerian workers, with the Nigeria Labour Congress and Trade Union Congress demanding the commencement of renegotiations ahead of the July 2026 deadline.

The Federal Workers Forum has also planned a nationwide protest on Monday to demand an immediate wage review and payment of outstanding allowances.