Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, says the country’s ₦70,000 national minimum wage is no longer enough to withstand the economic pressures facing workers.
Mr Keyamo made the remarks at the 2026 National Pre-Retirement Summit organised by XEM Consultants Limited, where he said rising living costs had significantly reduced workers’ purchasing power.
The minister, who previously served as Minister of State for Labour and Employment, recalled the negotiations that led to the increase in the minimum wage from ₦30,000 to ₦70,000 in 2024.
He said the current wage was still insufficient to absorb the economic pressures confronting workers and called on the Federal Government to meet organised labour halfway in ongoing discussions over workers’ pay.
Labour unions are reportedly demanding increases of up to ₦500,000 as they push for wages that better reflect the rising cost of living.
Mr Keyamo also stressed the importance of prioritising workers’ welfare, warning that government agencies should not overlook basic allowances for employees while approving substantial spending for senior officials.
“Without these workers, we will not have a country,” he said, stressing that the human factor remained central to productivity and national development.
The comments come amid renewed concerns over rising food, transport and energy costs and growing calls from organised labour for measures to protect workers’ purchasing power.
NLC President Joe Ajaero, who also spoke at the summit, called for government intervention using increased oil revenues to cushion workers and other Nigerians from the impact of rising living costs. He also said discussions on the next minimum-wage review should begin early.
