The United States government has expressed concern over the continued devaluation of naira visa viz the new national minimum wage, warning that the recently approved N70,000 benchmark cannot lift citizens out of poverty due to the country’s worsening economic conditions. The US authority stated this in its 2024 Country Reports on Human Rights Practices, released on August 12, 2025 Department of State’s Bureau of Democracy, Human Rights, and Labour, Washington noted that the minimum wage, currently valued at about $47.90 per month at the prevailing exchange rate of over N1,500 to the dollar, has been severely eroded by the continued depreciation of the naira.