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JUST IN: Finance Minister Wale Edun Reportedly Recommends N105,000 Minimum Wage

Published

5 months ago

Jun 6, 2024.

Eko Hot Blog reports that the Finance Minister and coordinating Minister of the Economy Wale Edun has reportedly proposed a significant increase in Nigeria’s minimum wage, suggesting a new threshold of N105,000.

This news medium had earlier reported that the Minister submitted the new minimum wage template to President Tinubu, meeting the 48-hour deadline issued to him.

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The Minister also held a meeting with President Bola Tinubu against the backdrop of ongoing discussions on a new national minimum wage.

The Minister of Budget and Economic Planning, Atiku Bagudu, was also in attendance at the meeting which held at the State House in Abuja.

It was gathered that during the meeting, Edun presented a template to President Tinubu, meeting the 48-hour deadline earlier issued to him.

According to sources quoted by WesternPost, the template proposes a new minimum wage of ₦105,000 (approximately $220 USD) per month for Nigerian workers.

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The source added that Tinubu is currently reviewing the proposal, and an official announcement would be made soon.

Previously, the government and the Organized Private Sector had proposed a minimum wage of ₦60,000, which was outrightly rejected by organized labour representatives and resulted in the nationwide strike action which rocked the country on Monday and was eventually suspended on Tuesday after interventions in which some agreements were signed between the government and the labour.

Details Later….

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