Nigeria raised its minimum wage to N70,000 in 2024 to address rising living costs. However, global oil prices have climbed above $100 per barrel, putting pressure on the policy’s effectiveness. The increase was intended to ease the cost-of-living crisis, but inflation and currency depreciation have undermined its impact. Many workers report that their salaries do not cover basic expenses, especially with fuel costs rising sharply. The government faces growing public frustration as the policy struggles to match economic realities. Analysts warn that without further adjustments, the minimum wage may fail to provide meaningful relief. The situation highlights the challenges of balancing economic stability with social welfare in a volatile market.