Wale Edun submits minimum wage cost to Tinubu
Wale Edun, Minister of Finance and Coordinating Minister of the Economy, has given to President Bola Tinubu the expected costs of adopting a new national minimum wage.Edun and Minister of Budget and National Planning, Atiku Bagudu, briefed President Tinubu with the cost implications of the new minimum wage at his office at the presidential residence in Abuja.
Speaking with State House media after meeting with the President, Edun confirmed the submission and assured them that "there is no cause for alarm."
Edun's submission of the cost implications follows a 48-hour ultimatum handed to him by President Tinubu on Tuesday during a meeting with the government negotiation team on the new minimum wage, led by the Secretary to the Government of Federation, Senator George Akume.
The conference also featured the Ministers of Finance, Budget and National Planning, Labour, and Information, as well as the Nigeria National Petroleum Company Limited's Group Managing Director and CEO.
Recall that organized labour, represented by the Nigeria Labour Congress and the Trade Union Congress, went on strike nationwide on Monday to seek an increase in the minimum wage for workers as well as the reversal of recently increased electricity tariffs.
However, the labor union leadership postponed the strike for five days on Tuesday after striking an agreement with the Federal Government to reopen negotiations and propose a new minimum wage within a week.
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