Breaking News: Wale Edun Submits Minimum Wage Cost Implications to President Tinubu

Finance Minister Meets Deadline on Minimum Wage Proposal

Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has presented President Bola Tinubu with the projected cost implications of implementing a new national minimum wage. This follows a 48-hour ultimatum issued by the President on Tuesday.

Edun presented the cost implications of the new minimum wage to President Tinubu at the presidential villa in Abuja, alongside the Minister of Budget and National Planning, Atiku Bagudu.

The submission follows a meeting with the government negotiation team on the new minimum wage, led by Senator George Akume.

Organised labour embarked on a nationwide strike on Monday, demanding an increased minimum wage and the reversal of recently increased electricity tariffs.

The labour union leadership suspended the strike on Tuesday for five days, committing to resume negotiations and establish a new minimum wage within a week.

The federal government and labour unions are set to resume talks on a new minimum wage for Nigerian workers. The tripartite committee, comprising the federal government and labour unions, will review the proposal and associated costs submitted by Edun. A new national minimum wage is expected to be announced within the next week.