FINANCE MINISTER EDUN PRESENTS NEW MINIMUM WAGE TO PRESIDENT TINUBU

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Finance Minister and Coordinating Minister of the Economy, Wale Edun, has presented the projected cost implications of implementing a new national minimum wage to President Bola Tinubu. Accompanied by the Minister of Budget and National Planning, Atiku Bagudu, Edun delivered the cost analysis to President Tinubu at the presidential villa in Abuja.

After the meeting, Edun confirmed the submission to State House correspondents, reassuring the public that “there is no cause for alarm.”

Edun’s submission came in response to a 48-hour ultimatum issued by President Tinubu on Tuesday during a meeting with the government negotiation team on the new minimum wage, led by Secretary to the Government of the Federation, Senator George Akume. The meeting also included the Ministers of Finance, Budget and National Planning, Labour, and Information, along with the Group Managing Director and Chief Executive Officer of the Nigeria National Petroleum Company Limited.

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This development follows a nationwide strike by organized labor, including the Nigeria Labour Congress and Trade Union Congress, which demanded an increased minimum wage and a reversal of the recently increased electricity tariffs. The strike was suspended on Tuesday for five days after labor union leaders and the Federal Government agreed to resume negotiations and finalize a new minimum wage within a week.

More details to follow…

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