Wale Edun, The Minister of Finance

The Minister of Finance, Wale Edun, on Thursday submitted the estimated cost implications of implementing a new national minimum wage to President Bola Tinubu.

Officials in the know of the matter reported that Edun submitted a proposal of N105,000 to the president as the new minimum wage.

SaharaReporters had earlier on Thursday reported that despite the assurances of the Nigerian government on its commitment to ensuring the presentation of a new minimum wage ‘higher than N60,000’, the Nigeria Labour Congress has revealed that the government has failed in doing that.

In a video posted on its official X (formerly Twitter) handle, the congress had noted that as of the time of making the post on Thursday morning, nothing new had been offered as the new minimum wage as the Minister of Finance, Wale Edun, was yet to prepare a new template as told by President Bola Tinubu.

“Update: One Week Ultimatum, They have not presented any different thing yet. FG show Workings ooO! no be to dey yarn cho! cho! cho! One week is at the corner already. #We DEMAND A LIVING WAGE NOW!” the NLC had said on its X account.

On June 4, President Tinubu asked that the finance minister, Wale Edun present a new wage template within two days but as of the morning of June 6, which is two days after the declaration, the Labour Congress noted that there was nothing new yet.

There is a disagreement between organised labour and the government. While organised labour is asking for a wage of N494,000, the government said it would pay N60,000.

However, few hours later, the Finance Minister, Edun, along with the Minister of Budget and National Planning, Atiku Bagudu, submitted the cost implementation of the new minimum wage to President Tinubu in his office at the presidential villa in Abuja.

Edun speaking with State House correspondents after meeting with the President, said, “There is no cause for alarm.”

SaharaReporters had reported the disagreement between organised labour and the government over the implementation of the national minimum wage. While organised labour is asking for a wage of N494,000, the government said it would pay N60,000.

However, following the declaration of an indefinite nationwide strike – which commenced on Monday and was relaxed for one week – the government committed to pay above N60,000.

The Trade Union Congress President, Comrade Festus Osifo, noted that there was no new development or offer from the government.

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

When quipped on if there was an offer beyond N60,000, he stated that such an offer was not 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.”

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