President Tinubu Receives New Minimum Wage Analysis from Finance Minister

By Joke Kujenya

A DETAILED report has been submitted to President Bola Tinubu, outlining the projected cost implications of implementing a new national minimum wage by the Finance Minister and Coordinating Minister of the Economy, Wale Edun.

This action comes as a response to President Tinubu’s recent 48-hour directive, which required Edun to present a proposed new minimum wage figure along with an analysis of the associated costs.

Edun’s report is said to feature several potential minimum wage levels, each accompanied by an assessment of its anticipated fiscal impact on the federal budget.

The objective is to provide a comprehensive understanding of how different wage adjustments could influence the nation’s financial stability.

Minister of Information, Mohammed Idris, reiterated the federal government’s commitment to a collaborative approach involving all parties in the negotiation process, including organized labour.

“We are dedicated to working together over the next week to establish a new wage structure for Nigeria that is both acceptable and sustainable,” Idris had assured Nigerians on Tuesday.

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