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Minimum Wage Increases Alone Cannot End Economic Hardship, Nigerian Experts Say
Two Nigerian academics have warned that repeated increases in the national minimum wage, without broader economic reforms, are unlikely to significantly improve living standards as inflation continues to erode workers’ purchasing power.
In a policy analysis, Gesiye Salo Angaye and Preye Angaye said the ₦70,000 national minimum wage, signed into law by President Bola Tinubu, has been undermined by rising inflation and the increasing cost of living.
The experts argued that inflation accelerated following the removal of petrol subsidy and the floating of the naira, leading to higher prices for transport, housing, education and other essential goods and services.
“A pay rise that isn’t matched by more goods and services on the shelves rarely stays a pay rise for long. It becomes a price rise instead,” they stated.
Citing National Bureau of Statistics data, the authors noted that about 93 per cent of employed Nigerians work in the informal sector, meaning most workers do not directly benefit from the minimum wage but are affected by higher living costs.
They also highlighted disparities in states’ internally generated revenue, saying these differences have made implementation of the new wage uneven across the country.
The experts recommended productivity-driven wage growth, increased investment in education, healthcare, infrastructure and agriculture, stronger support for small businesses, prudent fiscal management and reforms that strengthen economic productivity. They concluded that sustainable wage growth should be supported by a more productive economy rather than relying solely on periodic wage adjustments.
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El-Kanemi Warriors Win 2026 President Federation Cup After Defeating Ikorodu City
By Anne Azuka
El-Kanemi Warriors of Maiduguri have won the 2026 President Federation Cup after defeating Ikorodu City of Lagos 1-0 in the final at the Stephen Keshi Stadium in Asaba.The decisive goal came in the first half and proved enough to secure victory in a closely contested encounter.
El-Kanemi Warriors controlled much of the possession and dictated the pace of the game, while Ikorodu City created several scoring opportunities but were unable to find an equaliser.
The Maiduguri side defended resolutely in the closing stages to preserve their lead and lift Nigeria’s oldest domestic football trophy. The victory adds another major title to El-Kanemi Warriors’ history and secures the club’s place among the winners of the 2026 President Federation Cup.
News
Nasarawa Amazons Beat Heartland Queens to Win 2026 Women’s President Federation Cup
By Anne Azuka
Nasarawa Amazons have won the 2026 Women’s President Federation Cup after defeating Heartland Queens 4-2 on penalties following a 1-1 draw in regulation time at the Stephen Keshi Stadium in Asaba.
Heartland Queens took the lead before Nasarawa Amazons equalised in the second half, forcing the match into a penalty shootout. The Lafia-based side held their nerve from the spot to claim their third Women’s President Federation Cup title, a year after finishing as runners-up.
Speaking after the victory, Nasarawa Amazons captain Confidence Nwoha credited the team’s success to determination and the encouragement of the coaching staff. “We thank God for our coach, who kept encouraging us psychologically. After losing last year’s final, we were determined to win this year,” she said.
Heartland Queens captain Chimebere Opara described the officiating as fair but expressed disappointment with the outcome. She appealed to the Imo State Government to continue supporting the team, saying they would strive for a stronger campaign next season .The final was attended by Nigeria Football Federation (NFF) President Ibrahim Gusau and Delta State Governor’s representative, Chief of Staff John Erijo.
News
Group Urges Kano Government to Review Operations of State-Owned Microfinance Banks
By Jabiru Hassan
The Better Economic Society (BES) has called on the Kano State Government to investigate the operations of state-owned microfinance banks to assess whether they are fulfilling their mandate of supporting grassroots economic development.
Speaking to journalists in Kano, representatives of the group said the banks were established to improve financial inclusion, provide access to credit for small businesses and bring banking services closer to rural communities.
BES alleged that some of the microfinance banks had not fully achieved these objectives and urged Governor Abba Kabir Yusuf to set up an independent committee to review their activities and transactions.The group also alleged that access to loan facilities had, in some cases, been influenced by political considerations rather than the intended eligibility criteria.
A senior staff member of one of the state-owned microfinance banks, who requested anonymity because he was not authorised to speak publicly, also alleged that some loan disbursements did not follow established guidelines.
Similarly, some loan applicants interviewed by the newspaper claimed they were unable to access financing, alleging that some beneficiaries had political connections. These claims have not been independently verified.BES urged the state government to ensure that any review covers all state-owned microfinance banks, including those whose licences were revoked by the Central Bank of Nigeria (CBN), with the aim of improving transparency, accountability and service delivery.
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