Wale Edun, Minister of Finance and Coordinating Minister of the Economy, has given to President Bola Tinubu the expected costs of adopting a new national minimum wage.
The minister presented the cost proposal to the President in the Presidential Villa in Abuja on Thursday, following a 48-hour deadline imposed to him on Tuesday.
PUNCH Online believes that the research includes many potential new minimum wage levels and the expected fiscal consequences on the government budget for each choice.
Recall that organized labor, 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.
However, the labor 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.
