Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Thursday, beat the 48-hour ultimatum and submitted the projected cost implications of implementing a new national minimum wage President Bola Tinubu.
TREND recalls that Mr President had issued the directive to present a proposed new minimum wage figure and analysis of the associated costs to him on Tuesday.
The finance minister’s report is said to outline several potential new minimum wage levels along with the anticipated fiscal impacts on the federal budget of each option, LEADERSHIP reports.
TREND reports that the Organised Labour had embarked on a nationwide indefinite strike on Monday and Tuesday to demand increased minimum wage for government workers after rejecting a N60,000 proposed wage by the Federal Government.
The industrial action was relaxed for five days by the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) after signing a commitment with the federal government to resume negotiations and come up with a new minimum wage within a week.