{"id":175249,"date":"2025-08-20T13:43:14","date_gmt":"2025-08-20T12:43:14","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/tinubu-naira-devaluation-made-n70000-minimum-wage-useless"},"modified":"2025-08-20T14:42:42","modified_gmt":"2025-08-20T13:42:42","slug":"tinubu-naira-devaluation-made-n70000-minimum-wage-useless","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-naira-devaluation-made-n70000-minimum-wage-useless","title":{"rendered":"Tinubu Naira Devaluation Made N70,000 Minimum Wage Useless"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The United States government has said that President Bola Tinubu\u2019s minimum wage increase has been eroded by naira devaluation, leaving millions of Nigerians struggling with worsening poverty and inflation.<\/p>\n<p>This was contained in the Country Reports on Human Rights Practices for 2024, released on August 12 by the U.S. Department of State\u2019s Bureau of Democracy, Human Rights, and Labour.<\/p>\n<p>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.<\/p>\n<p>It further observed that many Nigerians were excluded from the increment, as some states have yet to implement the new wage, while employers with fewer than 25 workers are not mandated to comply.<\/p>\n<p>\u201cMany employers had fewer than 25 employees, so most workers were not covered. Some states declined to implement the minimum wage law, citing financial constraints,\u201d the report said.<\/p>\n<p>Tinubu announced the wage increase in July 2024, a year after implementing subsidy removal and exchange rate unification.<\/p>\n<p>At the time, Tinubu said the N70,000 minimum wage would be reviewed every three years instead of five.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Nigeria<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The United States government has said that President Bola Tinubu\u2019s 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\u2019s [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":175248,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[254,945,854],"class_list":["post-175249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-nigeria","tag-tinubu","tag-united-states"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Tinubu Naira Devaluation Made N70,000 Minimum Wage Useless - Nigeria<\/title>\n<meta name=\"description\" content=\"The United States government has said that President Bola Tinubu\u2019s minimum wage increase has been eroded by naira devalu ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-naira-devaluation-made-n70000-minimum-wage-useless\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tinubu Naira Devaluation Made N70,000 Minimum Wage Useless\" \/>\n<meta property=\"og:description\" content=\"The United States government has said that President Bola Tinubu\u2019s minimum wage increase has been eroded by naira devalu ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-naira-devaluation-made-n70000-minimum-wage-useless\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-20T12:43:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-20T13:42:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/08\/sm_1755684933.470702.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-naira-devaluation-made-n70000-minimum-wage-useless#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-naira-devaluation-made-n70000-minimum-wage-useless\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Tinubu Naira Devaluation Made N70,000 Minimum Wage Useless\",\"datePublished\":\"2025-08-20T12:43:14+00:00\",\"dateModified\":\"2025-08-20T13:42:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-naira-devaluation-made-n70000-minimum-wage-useless\"},\"wordCount\":204,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-naira-devaluation-made-n70000-minimum-wage-useless#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/08\/sm_1755684933.470702.jpg\",\"keywords\":[\"Nigeria\",\"Tinubu\",\"United States\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-naira-devaluation-made-n70000-minimum-wage-useless#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-naira-devaluation-made-n70000-minimum-wage-useless\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/tinubu-naira-devaluation-made-n70000-minimum-wage-useless\",\"name\":\"Tinubu Naira Devaluation Made N70,000 Minimum Wage Useless - 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