On Thursday, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, held a crucial meeting with President Bola Tinubu amidst ongoing discussions about a new national minimum wage.
The Minister of Budget and Economic Planning, Atiku Bagudu, also participated in the meeting, which took place at the State House in Abuja.
During the meeting, Edun presented a new minimum wage template to President Tinubu, meeting the 48-hour deadline previously set for him. Addressing the press after the meeting, Minister Edun reassured the public, stating, “There is no cause for alarm,” but did not disclose further details of the discussions.
Sources quoted by WesternPost revealed that the new template proposes a minimum wage of ₦105,000 (approximately $220 USD) per month for Nigerian workers. The source added that President Tinubu is currently reviewing the proposal, with an official announcement expected soon.
It is anticipated that the government team may unveil the new proposal during today’s meeting of the tripartite committee on minimum wage, which includes representatives from the government, organized labour, and the organized private sector.
The urgency of these discussions highlights the government’s commitment to resolving the contentious minimum wage issue, which has repeatedly stalled negotiations. Previously, the government and the Organized Private Sector had proposed a minimum wage of ₦60,000, a figure that was outrightly rejected by organized labour representatives, leading to a nationwide strike action on Monday. The strike was suspended on Tuesday following interventions and some agreements between the government and labour.
