The Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, has said Nigeria’s ₦70,000 national minimum wage is no longer sufficient to withstand the economic pressures confronting workers, calling for improved remuneration as organised labour pushes for a new wage arrangement.
![](https://thenigerialawyer.com/wp-content/uploads/2026/09/NBBSPIDEL.png")
![](https://thenigerialawyer.com/wp-content/uploads/2026/05/2026-Summer-IDRI-Masterclass.jpg")
Keyamo spoke in Abuja at the 2026 National Pre-Retirement Summit, organised by XEM Consultants Limited, where the President of the Nigeria Labour Congress, Joe Ajaero, also called for wages and pensions to be linked to inflation and the cost of living to prevent workers’ incomes from being continually eroded by rising prices.
The minister, who previously served as Minister of State for Labour and Employment, recalled the negotiations that resulted in the increase of the national minimum wage from ₦30,000 to ₦70,000 in 2024.
President Bola Tinubu signed the National Minimum Wage amendment into law in July 2024, raising the statutory wage floor to ₦70,000 and shortening the review period from five years to three years.
Keyamo said that despite the 2024 increase, changes in the economy and cost of living had substantially affected workers’ purchasing power.
He urged the Federal Government and organised labour to seek common ground in the ongoing discussion over wages, noting that labour representatives were seeking substantially higher remuneration.
According to him, the existing ₦70,000 wage is insufficient to absorb the economic shocks workers are currently experiencing.
Keyamo also criticised what he described as the poor treatment of workers in some government establishments, particularly situations where employees were denied basic allowances while senior officials allegedly approved substantial expenditure for foreign travel.
“I will have none of it. Without these workers, we will not have a country,” he said.
The minister argued that the human component of public administration must remain at the centre of government policy, saying machines, infrastructure and other resources could not function effectively without workers.
“It’s not the machines or everything that you [have]; it’s the human factor. Without that, no machine will move,” he said.
He therefore urged ministers and heads of government agencies to give priority to issues affecting workers’ welfare and productivity rather than allowing bureaucratic considerations to overshadow the wellbeing of employees.
Speaking at the same summit, NLC President Joe Ajaero shifted attention from the nominal size of the minimum wage to what workers can actually buy with their income.
Ajaero said wage negotiations should take into consideration inflation, food prices, transportation costs, fuel prices and other economic variables rather than simply settling on a headline figure.
“Negotiations are not just figures,” he said.
To illustrate his argument, the NLC president said even a salary of ₦1 million would provide little relief if the prices of essential commodities rose to levels that consumed most of that income.
He argued that the relevant consideration should therefore be workers’ real purchasing power, rather than the numerical amount printed on their pay slips.
The labour leader consequently renewed his call for Nigeria to introduce a system under which wages and pensions are indexed to inflation or a recognised cost-of-living measure.
According to Ajaero, such an arrangement would allow salaries and pensions to adjust as economic conditions change, rather than leaving workers to wait several years for another minimum-wage negotiation after inflation has already eroded their earnings.
“Unless you index it either based on cost of living index or inflation, immediately inflation goes like this, automatically it will adjust,” he said, adding that the same principle should apply to pensions.
Ajaero also maintained that the minimum pension should be discussed alongside the national minimum wage because retirees face the same increases in food, transportation, housing, healthcare and other basic costs confronting active workers.
He said the decision to shorten the national minimum-wage review period from five years to three years was intended to make wages more responsive to changing economic circumstances.
Earlier in 2026, the NLC and Trade Union Congress announced plans to begin negotiations for another national minimum wage ahead of the next statutory review, citing worsening economic conditions and declining purchasing power.
Ajaero, however, said workers also needed immediate assistance before the next wage adjustment.
His concern, he said, was how workers could survive current pressures arising from fuel, transportation and food costs while negotiations for a longer-term wage arrangement continue.
The NLC president particularly pointed to rising international oil prices, arguing that Nigeria, as an oil-producing country, stood to earn additional revenue and should use part of any resulting gains to cushion workers and other citizens.
He urged the Federal Government to consider intervention measures to mitigate the impact of rising fuel prices on transportation and household expenses.
The claim about additional government oil revenue was Ajaero’s assessment; the report did not provide official revenue figures establishing the precise amount of any additional earnings.
His latest comments follow previous demands by the NLC for measures including cost-of-living allowances and tax relief to cushion workers against higher petrol prices and inflation.
Ajaero also questioned how much relief had been delivered through government measures intended to reduce transportation and energy costs, particularly the Compressed Natural Gas programme.
He asked how many filling facilities were readily available, how many vehicles had been converted to CNG and how many electric vehicles were operating on Nigerian roads.
For the NLC president, reducing pressure from transportation, inflation, food prices and currency movements could be as important as increasing the nominal minimum wage because those factors directly determine what a worker’s salary can purchase.
Concerns about the purchasing power of the ₦70,000 wage have also featured prominently in recent labour discussions. Labour leaders said in August that the existing minimum wage had been overtaken by economic realities, while a recent BudgIT analysis cited by The Guardian found that the cost of a healthy diet alone could consume most of a minimum-wage worker’s income in some states.
The summit also focused on preparing workers for life after formal employment.
Chief Executive Officer of XEM Consultants Limited and convener of the summit, Dr Eugenia Ndukwe, said the programme was designed to equip senior professionals with skills and strategies necessary for a productive and financially sustainable retirement.
She said participants were exposed to issues including financial management and planning, health and wellness, entrepreneurship and investment, estate and wealth management, and agricultural enterprise systems.
Ndukwe said digital innovation was changing traditional concepts of retirement by providing experienced professionals with opportunities to remain economically productive after leaving formal employment.
She disclosed that XEM Consultants partnered with Galaxy Backbone to provide participants with digital skills, knowledge and tools to explore technology-enabled opportunities.
According to her, the broader objective is to promote a new approach to retirement in Africa by helping professionals develop individual plans reflecting their financial circumstances, health needs, career experience and post-service ambitions.
[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials
Available now for NGN 40,000 at ASC Publications, 10, Boyle Street, Onikan, Lagos. Beside High Court, TBS. Email publications@ayindesanni.com or WhatsApp +2347056667384. Purchase Link: https://paystack.com/buy/evidence-act-complete-annotation
______________________________________________________________________ “Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence
Interested buyers are encouraged to place their orders and enquiries via:
0704 444 4777, 0704 444 4999, 0818 199 9888
Website: www.alexandernigeria.com
