The Trade Union Congress (TUC) has called for annual adjustments to the ₦70,000 minimum wage currently paid to Nigerian workers, aiming to better reflect rising inflation rates. The proposal, made by TUC President Festus Osifo, was shared on January 1, 2025, during an appearance on Channels Television’s Politics Today.
Osifo emphasized the need for more timely wage updates, pointing out that the current system, which only reviews wages every five years, no longer aligns with the rapidly changing economic landscape. “What we are pushing for is that instead of waiting five years to increase the minimum wage, we should adjust it annually to reflect inflation,” he said.
The TUC is advocating for the wage to be tied to inflation rates, with Osifo suggesting that the government use the National Bureau of Statistics’ inflation figures for the previous year, typically released in January, to calculate adjustments. For instance, if inflation hits 35%, the ₦70,000 minimum wage would increase by the same percentage to maintain its value.
“We want a systemic approach where the inflation rate of the previous year is applied to adjust the minimum wage annually, starting in 2025,” Osifo explained. He further stated that this model would ensure that workers’ wages keep up with the soaring cost of living, especially in light of significant price hikes in energy and the removal of petrol subsidies.
The federal government, alongside the Nigeria Labour Congress (NLC), reached an agreement in July 2024 on the ₦70,000 minimum wage, a sharp rise from the previous ₦30,000 set five years earlier. However, unions have expressed concern that even this increase is insufficient given the dramatic rise in living costs.
Osifo confirmed that discussions on the proposed wage adjustments are ongoing, with unions aiming to engage the government and other stakeholders throughout 2025 to secure a more sustainable and fair wage system for workers.
