Organised Labour is advocating for an annual adjustment to Nigeria’s ₦70,000 minimum wage to reflect inflation, according to Festus Osifo, President of the Trade Union Congress (TUC).

Speaking on Channels Television’s Politics Today on Wednesday, January 1, Osifo emphasised the need for wages to align with rising living costs.

“Instead of waiting five years to increase the minimum wage, why can’t we reflect inflation on an annual basis?” Osifo questioned, highlighting that Labour is determined to push for systemic wage adjustments.

Labour unions, including the TUC and the Nigeria Labour Congress (NLC), have initiated discussions on this proposal.

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Osifo explained that by January 2025, when the National Bureau of Statistics releases December’s inflation data, the figure should directly influence the minimum wage.

“For example, if inflation is 35%, apply that to the ₦70,000 minimum wage so it reflects its true value,” he suggested.

Osifo argued that the current three-year review period is inadequate, given the astronomical rise in living costs.

The push comes in response to economic challenges exacerbated by energy price hikes and the removal of petrol subsidies.

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Despite the July 2024 review that raised the minimum wage from ₦30,000 to ₦70,000 after five years, Labour insists the adjustment falls short of securing a decent living.

“₦70,000 cannot take any worker home,” Osifo declared, reaffirming Labour’s commitment to pushing for a fair and sustainable wage structure in 2025 and beyond.