Inflation: NLC, FG May Reopen Minimum Wage Talks

The Nigeria Labour Congress (NLC) has said fresh negotiations with the Bola Ahmed Tinubu-led Federal Government on the national minimum wage review may begin soon amid concerns over rising inflation and worsening economic hardship.

The indication comes barely two years after the implementation of the ₦70,000 minimum wage.

Speaking with The PUNCH on Saturday, the NLC spokesperson, Benson Upah, said although formal engagement had not started, organised labour expected talks to commence shortly.

“No formal engagement yet to the best of my knowledge, but any moment soon,” Upah said.

Upah’s comment followed remarks by the Chief of Staff to the President, Femi Gbajabiamila, who said the country needed to begin another conversation on workers’ wages.

Gbajabiamila said persistent inflation had significantly weakened the value of the current minimum wage.

He noted that while the ₦70,000 minimum wage was a major milestone when introduced, current economic realities had made a reassessment necessary.

He also argued that workers’ welfare should go beyond salaries to include affordable housing, healthcare, transportation, education and other social support measures.

The last wage review in 2024 followed months of difficult negotiations involving the Federal Government, the NLC, the Trade Union Congress and the organised private sector.

Labour had initially demanded about ₦615,000, citing the removal of petrol subsidy, the floating of the naira and rising inflation.

The Federal Government and employers rejected the demand as unsustainable, leading to several revised offers before President Bola Tinubu intervened.

The parties eventually settled for ₦70,000 as the new national minimum wage.

Even after accepting the agreement, labour leaders warned that inflation could quickly erode the value of the new wage.

Since then, food prices, transport fares, electricity tariffs, rent and other basic costs have continued to rise.

NLC President, Joe Ajaero, has repeatedly insisted that Nigerian workers deserve a living wage that reflects current economic realities.