The Minister of Aviation and Aerospace Development, Festus Keyamo, has said the ₦70,000 national minimum wage is no longer sufficient to cushion Nigerian workers against rising living costs.
Keyamo spoke on Thursday at the 2026 National Pre-Retirement Summit organised by XEM Consultants Limited, where he said inflation and other economic pressures had eroded workers’ purchasing power.
He urged the Federal Government to reach an agreement with organised labour in the ongoing wage discussions, noting that labour unions were demanding as much as ₦500,000.
The minister, who previously served as Minister of State for Labour and Employment, recalled the negotiations that led to the increase in the minimum wage from ₦30,000 to ₦70,000 in 2024.
Keyamo also criticised the treatment of workers by some government agencies, particularly situations where basic allowances were allegedly withheld while senior officials approved large sums for foreign trips.
He stressed that workers’ welfare was central to national productivity and development, saying government agencies should prioritise their employees’ needs.
Speaking at the event, Nigeria Labour Congress President, Joe Ajaero, called on the Federal Government to use increased oil revenues to cushion the impact of rising fuel, food and transportation costs on workers and other Nigerians.
Ajaero argued that minimum wage negotiations should focus on workers’ purchasing power rather than nominal figures, advocating for wages and pensions to be indexed to inflation or the cost-of-living index.
He said the next minimum wage review was expected around March or April, urging government and labour to begin discussions early.
The NLC president also questioned the effectiveness of measures such as the Compressed Natural Gas programme in reducing transportation costs, and called for stronger interventions to address inflation, food prices, transportation and currency pressures.
