Labour Demands ₦70,000 Minimum Wage Be Adjusted Yearly Based on Inflation
The Organised Labour in Nigeria has announced plans to advocate for an annual increase in the minimum wage, arguing that workers’ wages should reflect inflation rates each year. This marks a shift from the current practice of adjusting wages only once every five years.
Festus Osifo, President of the Trade Union Congress (TUC), made the case during an interview on Channels Television’s Politics Today on January 1, 2025. Osifo argued that instead of waiting five years for wage increases, the government should adjust wages annually to account for inflation, which fluctuates each year.
“What we are pushing for as Labour is that instead of waiting five years to increase the minimum wage, you should look at the inflation of the last five years and make some adjustments. Why can’t we reflect the inflation on an annual basis?” Osifo said.
He explained that discussions on this issue had already begun between TUC, the Nigeria Labour Congress (NLC), and other stakeholders. As an example, Osifo pointed out that the National Bureau of Statistics is set to release the December inflation figure by mid-January 2025, and he advocated for that rate—such as 35% inflation—to be applied to the ₦70,000 minimum wage to make it reflect the true value of workers’ income.
Looking ahead, Osifo emphasized that this adjustment should happen annually, with similar applications in 2026 and beyond. He added that while the current Act mandates adjustments every three years, the Labour movement is advocating for more frequent updates to ensure workers’ wages keep pace with economic changes.
“We could be applying inflation figures from December of the preceding year to the current minimum wage, and that’s the position we are going to continue to advocate for in 2025,” Osifo stated.
