Nigeria to Review Minimum Wage
Analysis based on 8 articles · First reported Jun 25, 2026 · Last updated Jun 26, 2026
The announcement of a potential review of the national minimum wage by the Nigeria could lead to increased consumer spending and improved living standards for workers, positively impacting the domestic economy. However, businesses might face higher labor costs, potentially affecting profitability and investment decisions in various industries.
The Nigeria has announced plans to review the national minimum wage, currently set at N70,000, as it no longer reflects prevailing economic realities. This move comes less than two years after President Bola Tinubu signed the N70,000 minimum wage into law in July 2024, which more than doubled the previous N30,000 benchmark and shortened the review cycle from five to three years. Femi Gbajabiamila, Chief of Staff to the President, disclosed this at the Good Governance Summit 2026 organized by United States — Working People United in Abuja. He assured that the administration would approach the review as a partner with organized labor, not an adversary. Minister of Labour and Employment, Muhammad Maigari Dangyadi, and United States — Working People United National Coordinator, Williams Akporeha, also emphasized the importance of policies that improve workers' welfare and contribute to national development.
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