N70,000 Wage Has Lost Its Power, Workers Need More — Keyamo

The Minister of Aviation and Aerospace Development, Festus Keyamo, has said Nigeria’s current N70,000 national minimum wage is no longer sufficient to cushion workers against the economic pressures facing the country.

Keyamo made the statement on Thursday at the 2026 National Pre-Retirement Summit organised by XEM Consultants Limited in Abuja, where he called for an upward review of workers’ wages.

The minister, who previously served as Minister of State for Labour and Employment, said the purchasing power of workers had been weakened by rising living costs, making it necessary for the government and organised labour to reach an agreement on improved wages.

He recalled the negotiations that preceded the increase in the national minimum wage from N30,000 to N70,000 in 2024, noting that the current wage had become inadequate to absorb the economic shocks confronting workers.

“I think they still need to increase the minimum wage. It might not be what Labour wants or in terms of the extent to which they want it, but somehow we have to meet Labour midway,” Keyamo said.

He stressed that workers’ welfare should be prioritised, arguing that the human factor remained central to productivity and national development.

Advertisement

According to him, government agencies should not neglect workers’ basic welfare while substantial funds are spent on other areas, including international trips by senior officials.

Keyamo said workers should be given the necessary support to enable them perform effectively, adding that issues affecting their welfare should be addressed before other activities continue.

His comments come amid renewed discussions over workers’ wages and the rising cost of living. Organised labour has been calling for improved purchasing power, while recent reports indicate that labour groups are pushing for substantial increases to the current wage benchmark.

The 2026 National Pre-Retirement Summit, held in Abuja on September 24–25, focuses on retirement planning, financial security, investment, entrepreneurship and post-career productivity.