Breaking: Finance Minister Submits Updated Minimum Wage Proposal to Tinubu, Details Inside

Breaking News: Finance Minister, Wale Edun, Submits Proposal for New Minimum Wage to President Tinubu

In a significant development, the Minister of Finance, Wale Edun, has presented a proposal for a new national minimum wage to President Bola Tinubu. According to sources familiar with the matter, the proposed minimum wage is N105,000.

This move comes after the Nigerian government had earlier assured organized labor of its commitment to implementing a new minimum wage higher than N60,000. However, the Nigeria Labour Congress (NLC) had expressed disappointment and frustration, stating that the government had failed to present a new wage proposal as promised.

In a video posted on its official social media handle, the NLC had urged the government to take action, saying, “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!”

President Tinubu had given the finance minister a two-day ultimatum to present a new wage template on June 4. However, as of June 6, the NLC claimed that no new proposal had been presented.

The organized labor and the government have been at loggerheads over the minimum wage, with labor demanding N494,000 and the government offering N60,000. Despite the disagreement, the government had committed to paying above N60,000 following the declaration of an indefinite nationwide strike by labor.

After meeting with President Tinubu, Edun reassured that “there is no cause for alarm.” However, the Trade Union Congress President, Comrade Festus Osifo, stated that there was no new development or offer from the government yet. “The government is yet to present anything to us. What we have been discussing are principles but no new template yet,” he said.

The labor union is eagerly awaiting a concrete proposal from the government, hoping that a new offer will be presented soon. The developments come as labor unions continue to press for a living wage, and the government struggles to balance the demands of labor with the country’s economic realities.