Tinubu’s naira devaluation rendered N70,000 minimum wage useless – US

[NigerianEye - Nigeria] - 20/08/2025
The United States government has said that President Bola Tinubu’s minimum wage increase has been eroded by naira devaluation, leaving millions of Nigerians struggling with worsening poverty and inflation. This was contained in the Country Reports on Human Rights Practices for 2024, released on August 12 by the U.S. Department of State’s Bureau of Democracy, Human Rights, and Labour. The report noted that the National Minimum Wage (Amendment) Act 2024 doubled the minimum wage to N70,000 ($47.90) per month but added that currency depreciation placed it below the poverty income level. It (…)
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