Keyamo Says Rising Costs Have Outpaced Nigeria’s N70,000 Minimum Wage

Nigeria’s current minimum wage is struggling to keep pace with the cost of living, Aviation and Aerospace Development Minister Festus Keyamo has acknowledged, as pressure builds for a fresh review of workers’ pay.

Speaking at the 2026 National Pre-Retirement Summit organised by XEM Consultants Limited, Keyamo said the purchasing power of the N70,000 wage introduced in 2024 had been weakened by economic pressures.

He called for the Federal Government and organised labour to find common ground in the wage discussions, noting that labour unions were seeking as much as N500,000.

Keyamo also turned his attention to how workers are treated within some government institutions. He criticised situations in which employees allegedly struggle to receive basic allowances while substantial sums are approved for senior officials travelling abroad.

“I will have none of it. Without these workers, we will not have a country,” the minister said.

The remarks come amid wider calls for government measures to ease the financial strain on households as the prices of essential goods and services continue to put pressure on incomes.

NLC President Joe Ajaero, who also spoke at the summit, called for government intervention to protect workers and other Nigerians from rising fuel, transport and food costs.

Ajaero argued that wage negotiations should look beyond the amount printed on a payslip and instead consider what workers can actually afford with their earnings.

The debate comes ahead of the next review of Nigeria’s minimum wage, with the current N70,000 benchmark introduced in 2024.