AfriPulse
The Minimum Wage in Nigeria has again been reviewed upward, the seventh of its kind since 1989, Nigeria’s second republic While the minimum wage is being reviewed, the NYSC allowance has been increased in some instances as well The last review of the minimum wage was in 2024, a development orchestrated by the removal of the fuel subsidy and the unification of Nigeria’s foreign exchange Nigeria commenced a new era of minimum wage in July 2024 following the signing of the National Minimum Wage Amendment Act by President Bola Tinubu. At the same time, the allowance for the National Youth Service Corps (NYSC) members was reviewed.
The new minimum wage and the NYSC allowances have been subjected to reviews since 1989, the year of Nigeria’s second republic. While the minimum wage applies to workers in the private and public sectors. However, the new minimum wage is subject to change in 2026.
Breakdown of Nigeria’s minimum wage and NYSC allowance from 1989
Photo Credit: @officialABAT
Source: Twitter While states like Lagos, Rivers and some others are paying different salaries aside from the one that was earlier approved by the central government, while that of the federal government aligned with approved minimum wage.
However, a breakdown of the payment done by The Cable explained how the minimum wage and NYSC allowance have been paid since 1989.
S/N
Year
Minimum Wage
NYSC Allowance
1
1989
N250
N200
2
1998
N3,000
N200
3
2001
N7,500
N3,500
4
2011
N18,000
N19,800
5
2018
N30,000
N19,800
6
2019
N30,000
N33,000
7
2026
N70,000
N77,000
Why was the minimum wage recently reviewed The latest review of the new minimum wage and the NYSC allowance was due to the removal of the fuel subsidy and the unification of Nigeria’s exchange rate. The government’s policies led to the sudden increase in the cost of living in the country.
President Bola Tinubu recently talked about the gains of the fuel subsidy removal when he met with a group of investors in Paris, the capital of France, during his visit to the European country.
In the video, President Tinubu expressed confidence in Nigeria’s economy, adding that disturbing bottlenecks in the country’s economy, such as the fuel subsidy and exchange rate, have been removed.
The president reiterated that he inherited an economy that was near collapse and that “it was a very serious turnaround and recalibration.” He further explained that the “subsidy that was a burden to the entire country was removed, and ever since we have achieved FX stability”.
Recall that President Tinubu announced the removal of the fuel subsidy on his first day in office and subsequently unified the exchange rate, a development his administration has consistently defended despite its effect on the prices of basic commodities in the country.
President Bola Tinubu speaks on fuel subsidy removal
Photo Credit: @officialABAT
Source: Twitter Sanusi tackles Tinubu on subsidy removal’s gain Legit.ng earlier reported that President Bola Tinubu has again been dragged over the removal of the fuel subsidy and the recent trend of borrowing by his administration.
Muhammadu Sanusi II, the Emir of Kano, while speaking at an event, questioned why the president has kept borrowing after the removal of the fuel subsidy.
The criticism of the Emir has started generating mixed reactions from some concerned Nigerians, who are also asking questions.
Source: Legit.ng
Source: Legit.ng | Read the Full Story…
