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FG denies proposing N105,000 as new minimum wage

June 7, 2024

FG denies proposing N105,000 as new minimum wage

The Presidency has described as false the news making the rounds that the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has proposed N105,000 in the new minimum wage template.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this on his X account on Thursday.

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The presidential aide wrote, “The Honourable Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has not proposed N105,000 minimum wage.

“The contrary story being disseminated is false.”

Edun had earlier in the day presented the template to President Bola Tinubu, meeting the 48-hour deadline.

This newspaper earlier reported that Edun submitted the projected cost implications of implementing a new national minimum wage to Tinubu.

Edun, along with the Minister of Budget and National Planning, Atiku Bagudu, presented President Tinubu with the cost implications of the new minimum wage in his office at the presidential villa in Abuja.

According to some online media, a new proposal suggests a minimum wage of N105,000 (approximately $71) per month for Nigerian workers.

Tinubu is said to be currently reviewing this proposal, and an official announcement is expected soon.

This development follows a recent strike by labour unions, which began on Monday after their meeting with the National Assembly leadership failed to produce a satisfactory outcome.

The strike disrupted economic activities nationwide, leading to the closure of international airports, schools, courts, banks, and hospitals.

Members of the organised labour comprising the Nigeria Labour Congress and Trade Union Congress, on Tuesday, suspended their strike for five days.

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