The Federal Government spent N9.39tn on wage adjustments, minimum wage increases and allowances for public workers between June 2023 and December 2025, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has disclosed.
Oyedele made the revelation during a media conference on Nigeria’s reform scorecard, explaining how resources generated from economic reforms were utilised.
According to him, the Federal Government generated N20.4tn in incremental resources during the 31-month period through subsidy-related savings, increased independent revenue and additional borrowing.
However, the government’s additional expenses during the period reached N30.64tn, with wage-related spending accounting for the largest portion.
Oyedele said the N9.39tn spent on workers was higher than the Federal Government’s N5.4tn share of the savings generated from petrol subsidy removal.
Another N9.37tn was spent servicing external debt, largely due to the depreciation of the naira, which increased the cost of dollar-denominated obligations.
The disclosure comes ahead of fresh negotiations with the Nigeria Labour Congress over a new minimum wage, highlighting the growing fiscal pressure facing the Federal Government.
