Nigerian businessman and social commentator, Isaac Fayose, has appealed to President Bola Tinubu-led Federal Government to increase the national minimum wage from ₦70,000 to ₦200,000, citing the worsening economic hardship faced by millions of Nigerians.
In a statement shared on his social media platforms, Fayose argued that the current minimum wage has become inadequate due to the rising cost of living, inflation, and increasing prices of essential goods and services.
According to him, many workers can no longer meet their basic needs on the existing wage, urging the government to take immediate action to cushion the economic burden on citizens.
“President Tinubu, have mercy on our people and increase the minimum wage to ₦200,000 now. I don’t think anyone can survive on the current ₦70,000 minimum wage. ₦70,000 is nothing,” Fayose stated.
He also linked poor workers’ welfare to the country’s growing security challenges, insisting that addressing the minimum wage issue could help reduce crime and social unrest.
“If we don’t solve the minimum wage problem, we can’t solve crime,” he added.
Fayose’s remarks have sparked widespread debate across social media, with many Nigerians backing his proposal, arguing that the current wage no longer reflects the country’s economic realities.
Others, however, cautioned that a sharp increase in salaries without corresponding economic reforms could fuel inflation, weaken the value of the naira, and place additional financial pressure on both government and private sector employers.
The discussion comes as Nigeria continues to battle high inflation, rising living costs, and renewed conversations about workers’ welfare and broader economic reforms.