After receiving a 48-hour ultimatum from President Bola Tinubu, to come up with the modalities of implementing a new minimum wage, Finance Minister and Coordinating Minister of the Economy, Wale Edun, submitted the projected cost implications of implementing a new wage regime on Thursday.
The finance minister’s report is expected to outline several potential new wage figures along with the anticipated fiscal impacts on the federal budget of each option.
Organised Labour had embarked on a nationwide strike on Monday to demand an increased minimum wage for government workers, following the removal of oil subsidies and the hike in electricity tariffs.
The industrial action was suspended for five days by the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) after signing a commitment with the government to resume negotiations and come up with a new minimum wage within a week.