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Former Anambra State Governor and 2023 Labour Party presidential candidate, Mr. Peter Obi, has called on the Federal Government to immediately initiate a comprehensive review of the national minimum wage and implement far-reaching economic reforms to address the escalating cost of living and restore the purchasing power of Nigerian workers.
In a statement issued on Workers’ Day, Obi warned that the current minimum wage is no longer sufficient to guarantee a decent standard of living for the average Nigerian worker due to persistent high inflation, particularly in food, transportation, housing, and other essential commodities.
“In today’s Nigeria, the minimum wage can barely sustain a family for a week,” Obi stated. He stressed that wages have continued to lose real value, leaving millions of workers and their families trapped in poverty despite their daily labour.
Obi urged the government to treat the wage review as a matter of urgent national priority, noting that the Nigeria Labour Congress (NLC) and other labour groups have already raised similar concerns about the eroding value of the existing wage structure.
He emphasised that any meaningful review must be accompanied by broader structural reforms to stimulate productivity, reduce the cost of governance, block revenue leakages, and create an enabling environment for job creation and inclusive growth.
The Labour Party chieftain advocated for disciplined fiscal management, investment in critical sectors such as agriculture, manufacturing, and human capital development, and the prioritisation of citizens’ welfare over political comfort.
He argued that sustainable economic reforms must focus on expanding the productive base of the economy rather than relying heavily on borrowing without corresponding growth outcomes.
Obi further called for transparency and accountability in the management of public resources, stating that genuine economic transformation can only occur when government policies directly alleviate the suffering of ordinary Nigerians, especially workers who form the backbone of the nation. “This is not the time for cosmetic measures.
Nigerian workers deserve wages that reflect economic realities and policies that restore hope and dignity to their lives,” he added.
As Nigeria joins the rest of the world in marking International Workers’ Day, Obi congratulated Nigerian workers for their resilience and sacrifices, while reiterating his commitment to advocating for policies that put people at the centre of governance.
The statement comes at a time when labour groups are intensifying demands for a new wage review cycle in 2026, citing the impact of ongoing economic pressures on households nationwide.