Nigeria’s 70,000 Naira Sham

The Nigerian government recently approved an increase in the country’s minimum wage from N30,000 (approximately US$20) to N70,000 (approximately $47). While this increase aims to ease the financial strain on many Nigerians, the reality of the new minimum wage for the average citizen remains harsh.

Written by Juliet Nnaji

Feb 16, 2025

Photo illustration by Dami Mojid / THE REPUBLIC.

Nigeria’s journey to a new minimum wage has been anything but smooth. The last wage adjustment in 2019 raised the minimum wage from ₦19,000 to ₦30,000, and by 2024, the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) were demanding another wage increase. Initially, the unions proposed a ₦615,000 minimum wage, arguing that anything lower would fail to address the rising cost of living. The government countered with an offer of ₦48,000, which sparked outrage leading to widespread strikes. After weeks of stalled negotiations, back-and-forth proposals and growing public frustration, the government eventually raised its offer to ₦60,000 (approximately US$40). Labour leaders, however, insisted this amount was still insufficient, having already shifted their initial demand to ₦497,000 and later to ₦494,000.

Amid the prolonged deadlock and a two-day nationwide strike that crippled essential services, from hospitals to airports, President Bola Tinubu intervened, leading to a final agreement of ₦70,000 (approximately $47) to avoid further economic disruptions, with leaders of the NLC and TUC accepting this amount on the stipulation that wage reviews be done every three years rather than five. However, this victory on paper—more than double the previous minimum wage—still fell far short of the unions’ initial demand, failing to reflect the reality of Nigeria’s spiralling inflation. The announcement felt hollow for many Nigerians. Even among those relieved by the increase, concerns about its real impact lingered. Now, almost a year after the minimum wage increment, food prices have continued to rise, transportation costs are not easing off and essential goods are slipping farther out of reach; and the new wage raises a critical question: What does the increase truly mean for the average citizen?

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About the Author

Juliet Nnaji

is a Nigerian writer, spoken word poet, and storyteller who believes in the magic of words. Her work explores the delicate balance between vulnerability and strength, particularly through the lens of womanhood and social injustice.

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Nigeria’s 70,000 Naira Sham