JUST IN: Minister Wale Edun Presents Minimum Wage Proposal to President Tinubu

Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has presented new national minimum wage options and their associated costs to President Bola Tinubu.

Following Tinubu’s directive on Tuesday, Edun was tasked with submitting a proposal on the new minimum wage figure and its cost analysis within 48 hours. The report was delivered on Thursday at the presidential villa in Abuja, accompanied by Mohammed Idris, the Minister of Information and National Orientation, and Atiku Bagudu, the Minister of Budget and National Planning.

In his report, Edun outlined several potential new minimum wage levels, detailing the anticipated fiscal impacts of each option on the federal budget. This submission is a crucial step in the ongoing process of determining a new national minimum wage, a topic that has been under significant discussion recently.

On Monday, organized labor proposed N615,500 and N494,000 as potential new national minimum wages. However, the government deemed these figures unrealistic. On the same day, the federal government announced that President Tinubu had committed to a national minimum wage higher than N60,000. This commitment was one of the key resolutions reached during a meeting between the federal government and organized labor held in the office of the Secretary to the Government of the Federation.

Earlier today, members of the tripartite committee, which includes representatives from the federal government and labor unions, resumed talks on establishing a new national minimum wage.