President Bola Tinubu has received a report from the Minister of Finance, Wale Edun, outlining the estimated cost implications of introducing a new national minimum wage.
The minister submitted the cost proposal to the President at the Presidential Villa in Abuja on Thursday, June 6, 2024, following a 48-hour ultimatum issued to him on Tuesday, June 4, 2024.
The report outlines several potential new minimum wage levels along with the anticipated fiscal impacts on the federal budget of each option.
Recall that organised labour, comprising the Nigeria Labour Congress and Trade Union Congress had embarked on a nationwide strike on Monday to demand an increased minimum wage for workers and the reversal of the recently increased electricity tariffs.
https://www.ktnn.ng/fg-labour-private-sector-to-reconvene-on-minimum-wage-negotiations-friday/
However, the labour union leadership suspended the strike on Tuesday for five days after signing a commitment with the federal government to resume negotiations and come up with a new minimum wage within a week.
Details later…
Punch
