In a crucial step towards implementing a new national minimum wage, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has presented the projected cost implications to President Bola Tinubu.
The submission took place on Thursday at the presidential villa, with the Minister of Budget and National Planning, Atiku Bagudu, also in attendance.
Following the meeting, Edun addressed State House correspondents, confirming the submission and assuring that there was “no cause for alarm.”
This action comes in response to a 48-hour ultimatum issued by President Tinubu during a meeting on Tuesday with the government negotiation team, which included the Secretary to the Government of the Federation, Senator George Akume, and other key ministers and officials.
The urgency of this submission is underscored by recent industrial actions.
The Nigeria Labour Congress and Trade Union Congress initiated a nationwide strike on Monday, demanding a higher minimum wage and the reversal of increased electricity tariffs.
The strike was suspended for five days on Tuesday, following an agreement with the Federal Government to finalize a new minimum wage within a week.
