President Bola Tinubu has directed the Minister of Finance, Wale Edun, to present the cost implications for a new minimum wage within 48 hours.
This directive comes amid ongoing discussions and negotiations aimed at addressing the economic challenges faced by Nigerian workers.
The directive followed a crucial meeting with the government negotiation team, led by the Secretary to the Government of the Federation, George Akume, at the presidential villa in Abuja. This meeting is part of the government’s efforts to engage with various stakeholders and devise a viable solution to the demands for an increased minimum wage.
According to the Minister of Information and National Orientation, Mohammed Idris, President Tinubu has instructed the Minister of Finance to conduct a thorough analysis of the cost implications and provide an “affordable, sustainable, and realistic” figure for the new minimum wage within the two-day timeframe. This instruction underscores the administration’s commitment to balancing the needs of workers with the nation’s economic realities.
Idris stated, “The president has just summoned a meeting of all those who negotiated on behalf of the federal government led by the secretary to the government of the federation, the minister of finance was there, the minister of budget planning, the minister of information, the minister of budget and national planning, the minister of labour, and the NNPCL GMD.
“We were all there to look at all issues and the president has directed the minister of finance to do the numbers and get back to him between today and tomorrow so that we can have figures ready for negotiation with labour.”
