JUST IN: Finance Minister, Edun Submits Proposal Of ‘N105,000 New Minimum Wage’ To President Tinubu

The Minister of Finance, Wale Edun, on Thursday submitted the estimated cost implications of implementing a new national minimum wage to President Bola Tinubu.

Officials reported that Edun submitted a proposal of N105,000 to the president as the new minimum wage. Despite assurances from the Nigerian government on its commitment to presenting a new minimum wage ‘higher than N60,000’, the Nigeria Labour Congress (NLC) revealed that the government has failed to do so.

In a video posted on its official X (formerly Twitter) handle, the NLC noted that as of Thursday morning, nothing new had been offered as the new minimum wage. The Minister of Finance, Wale Edun, was yet to prepare a new template as instructed by President Bola Tinubu.

“Update: One Week Ultimatum, They have not presented any different thing yet. FG show Workings ooO! no be to dey yarn cho! cho! cho! One week is at the corner already. #We DEMAND A LIVING WAGE NOW!” the NLC said on its X account.

On June 4, President Tinubu asked the finance minister, Wale Edun, to present a new wage template within two days, but as of the morning of June 6, the Labour Congress noted that nothing new had been presented.

There is a disagreement between organized labor and the government. While organized labor is asking for a wage of N494,000, the government said it would pay N60,000.

However, a few hours later, the Finance Minister, Edun, along with the Minister of Budget and National Planning, Atiku Bagudu, submitted the cost implementation of the new minimum wage to President Tinubu in his office at the presidential villa in Abuja.

Edun, speaking with State House correspondents after meeting with the President, said, “There is no cause for alarm.”

There is ongoing disagreement between organized labor and the government over the implementation of the national minimum wage. While organized labor is asking for a wage of N494,000, the government said it would pay N60,000.

Following the declaration of an indefinite nationwide strike – which commenced on Monday and was relaxed for one week – the government committed to pay above N60,000.

The Trade Union Congress President, Comrade Festus Osifo, noted that there was no new development or offer from the government.

“The government is yet to present anything to us. What we have been discussing are principles but no new template yet,” he said.

When asked if there was an offer beyond N60,000, he stated that such an offer was not on the table.

“The government is yet to present any new offer to us; we are only hoping that by the time we come back tomorrow, something concrete will be available,” he said.

“They are only talking about principles and what is needed to work but nothing new yet on the minimum wage.”