Presidency denies reports of N105,000 proposed Minimum Wage

The Presidency has refuted claims that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, along with the Nigerian government negotiating team, proposed a new minimum wage of N105,000 to President Bola Tinubu.

The reports surfaced following statements from officials claiming that Edun presented this figure as the new wage.

However, Bayo Onanuga, Special Adviser to the President on Media and Strategy, dismissed these claims as untrue. Onanuga emphasized that Edun had not proposed N105,000, though he did not provide details on what the correct proposal entailed.

“The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has not proposed N105,000 minimum wage. The contrary story being disseminated is false,” Onanuga stated.

Previously, President Tinubu had tasked Edun on June 4 to present a new wage template within two days.

This directive came amidst a contentious dispute between organized labor and the government regarding the new minimum wage. While organized labor is advocating for a wage of N494,000, the government has countered with an offer of N60,000.

The disagreement prompted an indefinite nationwide strike, which commenced on Monday but was subsequently relaxed for one week. Following this, the government committed to raising its initial offer of N60,000, although specific figures have not been disclosed.

Trade Union Congress President, Comrade Festus Osifo, confirmed the lack of progress in the negotiations, stating,

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

Osifo also indicated that there was no offer beyond the initial N60,000 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.”