Finance Minister Edun Did Not Suggest N105,000 Minimum Wage, Says Onanuga

Bayo Onanuga, special adviser on information and strategy to President Bola Tinubu, has refuted claims that Wale Edun, the minister of finance and coordinating minister of the economy, proposed a new minimum wage of N105,000.

In a post on X (formerly Twitter) on Thursday, Onanuga clarified the misinformation circulating on the issue. “The Honorable Minister of Finance and coordinating minister of the economy, Wale Edun, has not proposed N105,000 minimum wage,” he stated. “The contrary story being disseminated is false.”

This disclaimer came shortly after Edun submitted various options for a new national minimum wage, along with their projected cost implications, to President Tinubu. This submission followed the president’s directive earlier in the week, instructing Edun to present a detailed template on new minimum wage figures and an analysis of the associated costs within 48 hours.

The directive was issued in the wake of the organized labour’s suspension of its strike, a move intended to facilitate further negotiations. Initially, organized labour had proposed a new national minimum wage of N615,500, later adjusting it to N494,000, figures which the government deemed unrealistic.

In a recent meeting between labour leaders and government representatives, George Akume, the secretary to the government of the federation (SGF), assured that President Tinubu is committed to establishing a national minimum wage higher than the current N60,000.