Minister of Finance, Wale Edun, submits proposal of ‘N105,000 New Minimum Wage’ to president Tinubu

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Minister of Finance, Wale Edun, submits proposal of ‘N105,000 New Minimum Wage’ to president Tinubu

 

The Minister of Finance, Wale Edun, on Thursday, 6th of June, 2024 submitted the estimated cost implications of implementing a new national minimum wage to President Bola Tinubu 

It was reported that Edun submitted a proposal of N105,000 to the president as the new minimum wage. 

 

 Recall that on 4th of june 2024, President Tinubu asked the finance minister, Wale Edun  to present a new minimum 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 minimum wage of N494,000, the government said they 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 and implementations 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.