BREAKING: Finance Minister Wale Edun Proposes N105,000 New Minimum Wage

Finance Minister Wale Edun and Budget Minister Atiku Bagudu have presented President Tinubu with a proposal for a new minimum wage of N105,000 ($220) per month.

This comes amid a dispute with organized labor, which demands a much higher wage of N494,000, while the government had previously offered N60,000.

After a nationwide strike, the government has committed to paying more than N60,000, although the TUC reports no new developments or offers. An official announcement from President Tinubu is anticipated soon.

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

Intel Region reported earlier that Edun submitted the projected cost implications of implementing a new national minimum wage to Tinubu.

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

According to Western Post, the new proposal suggests a minimum wage of N105,000 (approximately $220) per month for Nigerian workers.

Tinubu is currently reviewing this proposal, and an official announcement is expected soon.

Recall that there was a disagreement between organised labour and the government over the implementation of the national minimum wage. While organised labour is asking for a wage of N494,000, the government said it would pay N60,000.

However, 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 (TUC) 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 quipped on 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.”