The Federal Government has indicated that it will review Nigeria's national minimum wage, acknowledging that the current ₦70,000 benchmark no longer reflects prevailing economic realities amid the rising cost of living.

The development comes less than two years after President Bola Ahmed Tinubu signed the new National Minimum Wage Act into law in July 2024, increasing the minimum wage from ₦30,000 to ₦70,000 and reducing the statutory review cycle from five years to three years.

Speaking on Thursday at the Good Governance Summit 2026 organised by Working People United (WoPU) in Abuja, the President's Chief of Staff, Femi Gbajabiamila, said the administration recognises that workers' wages must keep pace with changing economic conditions.

Gbajabiamila said the N70,000 minimum wage represented a major milestone when it was introduced in 2024 but noted that it now requires an honest reassessment in view of current economic realities.

He assured workers that when the review process begins, the Federal Government would engage organised labour as a partner rather than an adversary.

"The N70,000 wage, which was a milestone in 2024, must be honestly reassessed against today's realities. I can confirm to you that when the time comes to begin the process of reviewing the national minimum wage, this administration will approach that endeavour not as an adversary of labour, but as a partner," he said.

Gbajabiamila also called on organised labour to maintain dialogue with the government, stressing that sustained cooperation would produce better outcomes for workers and the economy than confrontation.

Also speaking, the Minister of Labour and Employment, Muhammad Dingyadi, said the success of any government should be measured by the impact of its policies on workers' welfare.

According to him, governance goes beyond policy formulation and should translate into improved livelihoods, decent jobs, enhanced productivity, stronger social protection and expanded economic opportunities for citizens.

Earlier, the National Coordinator of WoPU, Williams Akporeha, described workers as the backbone of Nigeria's economy, saying no meaningful national development or productivity could be achieved without their contribution.

He noted that the summit brought together workers from different sectors to discuss strategies for promoting national development and improving the welfare of Nigerians.