Can Nigeria Afford 250,000 Naira Minimum Wage?

President Bola Ahmed Tinubu met with labor leaders on Thursday in Abuja to talk about setting a realistic minimum wage that helps improve the lives of Nigerian workers.

The leaders included Joe Ajaero from the Nigeria Labour Congress (NLC) and Festus Osifo from the Trade Union Congress of Nigeria (TUC).

This meeting is part of ongoing discussions about adjusting wages and fulfilling past agreements between the government and workers. Currently, the government wants to set the minimum wage at 62,000 Naira, but labor leaders are asking for 250,000 Naira.

President Tinubu stressed his focus on the welfare of workers, saying, “A happy worker is a productive worker, and our society relies on the productivity of its workforce.” He encouraged the labor leaders to have realistic expectations about the minimum wage, pointing out the need to match their demands with what the country can economically handle.

“We need to make sure our plans fit what we actually have available. Before we decide on the minimum wage, we have to look at the overall economic situation,” Tinubu said.

He also suggested that the country should consider changing wages more often than every five years to better respond to economic changes.

NLC President Joe Ajaero emphasised the tough conditions for Nigerian workers, underlining the need for a wage that not only meets the minimum standards but also supports a decent living.