The Federal Government has announced a shift in the timeline for minimum wage reviews from five years to two years, reflecting a commitment to addressing economic realities and improving workers’ welfare.
This was disclosed by the Minister of State for Labour and Employment, Nkeiruka Onyejeocha, during a statement in Abia State on Thursday. Onyejeocha explained that the new review policy aligns with President Bola Tinubu’s pledge to prioritize Nigerian workers’ needs.
“We are not going to allow minimum wage review to be forever,” Onyejeocha stated. “It used to be about five years, but now, in three years’ time, which is less than two years, we will also review the minimum wage.”
The announcement follows calls from the Trade Union Congress (TUC) for an annual review of the minimum wage to reflect the rising cost of living. Last year, President Tinubu approved a ₦70,000 minimum wage with a promise of periodic reviews every three years.
However, the growing inflation rate, which reached 34.60% in November 2024, has sparked demands for more frequent adjustments to ease workers’ financial burdens.
The government’s new two-year review timeline is seen as a step toward addressing these challenges, though further actions may be needed to align with labour unions’ demands for a yearly review.
The move has been welcomed as a significant shift in labour policy, but stakeholders continue to urge for additional measures to mitigate the impact of inflation on workers’ livelihoods.