BREAKING: Wale Edun submits minimum wage cost to Pres. Tinubu

The Minister of Finance, Wale Edun, on Thursday submitted the estimated cost implications of implementing a new national minimum wage to President Bola Tinubu.

Officials in the know of the matter reported that Edun submitted a proposal of N105,000 to the president as the new minimum wage.

It would be recalled that on June 4, President Tinubu asked that the finance minister, Wale Edun present a new wage template within two days but as of the morning of June 6, which is two days after the declaration, the Labour Congress noted that there was nothing new yet.

There is a disagreement between organised labour and the government. While organised labor is asking for a wage of N494,000, the government said it would pay N60,000.

However, a few hours later, the Finance Minister, Edun, along with the Minister of Budget and National Planning, Atiku Bagudu, submitted the cost implementation of the new minimum wage to President Tinubu in his office at the presidential villa in Abuja.