JUST IN: Minister of finance presents new national minimum wage proposal to president Tinubu

Finance Minister Wale Edun has swiftly responded to President Bola Tinubu’s directive by submitting a detailed report on the projected cost implications of implementing a new national minimum wage.

This submission occurred at the Presidential Villa in Abuja, following a 48-hour ultimatum issued earlier in the week.

The report, handed over to the President, outlines several potential minimum wage levels and their anticipated fiscal impacts on the federal budget.

This development comes in the wake of nationwide strikes led by organised labour, including the Nigeria Labour Congress and Trade Union Congress, demanding an increase in the minimum wage and the reversal of recent electricity tariff hikes.

Despite the strike being temporarily suspended for five days to allow for further negotiations, the pressure remains on government officials and labour leaders to reach a consensus and formulate a minimum wage agreement within the stipulated timeframe.