Kehinde Fajobi
Organised Labour has called for Nigeria’s minimum wage to be adjusted annually to reflect inflation, instead of waiting for lengthy intervals between increases.
Festus Osifo, President of the Trade Union Congress (TUC), made this known during an interview on Politics Today on January 1, 2025.
“What we are pushing for as Labour is that instead of waiting five years to increase the minimum wage, the government should reflect inflation on an annual basis,” he stated.
Osifo explained that Labour is advocating for the inflation rate of the preceding year to be applied to the minimum wage.
“For example, if the inflation figure for December is 35%, apply that 35% to the ₦70,000 minimum wage so it reflects its true value,” he said.
The TUC President emphasised the need for systemic yearly adjustments.
“When we get to 2026, the same application should be made. We shouldn’t be waiting for five years,” he added.
Osifo also noted that while the new Minimum Wage Act mandates reviews every three years, the Labour movement is pushing for even more frequent updates.
“This is part of the position we started canvassing last year and will continue in 2025,” he said.
The proposal aims to ensure workers’ earnings keep pace with inflation, providing more stability for Nigerian workers.