Minimum Wage: Finance Minister Proposes N105,000

Minimum Wage: Finance Minister Proposes N105,000
Minimum Wage: Finance Minister Proposes N105,000

Wale Edun, Nigeria’s Finance Minister and Economy Coordinator, has stepped forward with a new minimum wage proposal for the nation’s workforce, presenting it to President Bola Ahmed Tinubu just before the fast-approaching deadline.

This development, as chronicled by News Central, saw Edun outlining the financial blueprint for implementing the proposed wage adjustment to the President.

During this crucial meeting at the presidential villa in Abuja, Edun, joined by Atiku Bagudu, the Minister of Budget and National Planning, laid out the economic ramifications of the prospective minimum wage revision.

The document unveiled by Edun pegs the new minimum wage at N105,000 (about $220) monthly, setting the stage for an imminent uplift in the earnings of Nigerian workers.

READ MORE: National Assembly Plans To Pass New Minimum Wage Bill Amidst Labour Discussions

With the proposal now under presidential scrutiny, an official decree confirming the adjustment is anticipated in the near future.

This significant move arrives in the wake of recent labor strikes, sparked by unsuccessful negotiations between labor unions and government intermediaries. The industrial action momentarily stalled various sectors nationwide, affecting public transportation, education, healthcare, legal proceedings, and commercial operations.

In response to governmental diplomacy, the Nigeria Labour Congress alongside the Trade Union Congress agreed to a five-day hiatus on their strike on Tuesday, aiming for further dialogue.

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