By Ayodele
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has submitted the projected cost implications of a new national minimum wage to President Bola Tinubu.
Edun, alongside the Minister of Budget and National Planning, Atiku Bagudu, presented the cost implications to President Tinubu at his office in the presidential villa in Abuja.
Speaking to State House correspondents after the meeting, Edun confirmed the submission and assured that “there is no cause for alarm.”
Edun’s submission follows a 48-hour ultimatum given by President Tinubu during a meeting on Tuesday with the government negotiation team on the new minimum wage, led by Secretary to the Government of the Federation, Senator George Akume.
Other attendees at the meeting included the Ministers of Finance, Budget and National Planning, Labour, and Information, as well as the Group Managing Director and CEO of the Nigeria National Petroleum Company Limited.
Organised labour, comprising the Nigeria Labour Congress and Trade Union Congress, had initiated a nationwide strike on Monday to demand an increased minimum wage and the reversal of the recent electricity tariff hike. The strike was suspended on Tuesday for five days after labour leaders signed a commitment with the Federal Government to resume negotiations and determine a new minimum wage within a week.