The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has submitted the projected cost implications of implementing a new national minimum wage to President Bola Tinubu. This submission follows a directive issued by President Tinubu two days ago, requiring Edun to present a proposed new minimum wage figure and an analysis of the associated costs within 48 hours.
The Finance Minister’s report outlines several potential new minimum wage levels, along with the anticipated fiscal impacts on the federal budget for each option.
“All parties to the negotiation of the new minimum wage will work together with organized labor to present a new minimum wage for Nigerians in one week. All of us will work together assiduously within the next one week to ensure that we have a new wage for Nigeria that is acceptable, sustainable, and also realistic,” assured the Minister of Information, Mohammed Idris, on Tuesday.
