Finance Minister Wale Edun has proposed a new minimum wage of N105,000 to President Bola Tinubu, highlighting the financial implications. This presentation, made alongside Budget Minister Atiku Bagudu, occurred at the presidential villa in Abuja.
Following a meeting with President Tinubu, Edun confirmed the submission to State House correspondents and assured there was “no cause for alarm.”
This action follows a 48-hour ultimatum from President Tinubu, who met with a government negotiation team led by Secretary to the Government of the Federation, Senator George Akume.
Earlier in the week, the Nigeria Labour Congress and Trade Union Congress launched a nationwide strike demanding a higher minimum wage and a reversal of increased electricity tariffs. The strike was suspended for five days after the government agreed to negotiate and finalize a new minimum wage within a week.
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