BREAKING: Finance Minister submits new Minimum Wage template to Tinubu

Following President Bola Tinubu’s 48-hour ultimatum, Minister of Finance and Coordinating Minister of the Economy  Wale Edun has submitted the expected costs of implementing a new national minimum wage on Thursday.

The submission came two days after Tinubu’s directive to give a proposed new minimum wage amount as well as a cost study.

The finance minister’s report is said to outline several potential new minimum wage levels along with the anticipated fiscal impacts on the federal budget of each option.

Recall that the Organised Labour had embarked on a nationwide strike on Monday and Tuesday to demand increased minimum wage for the government workers.

Another of the labour demand was the reversal of the recently increased electricity tarrifs.

The industrial action was suspended for five days by the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) after signing a commitment with the federal government to resume negotiations, and come up with a new minimum wage within a week.

(Leadership)