By Milcah Tanimu
Following a 48-hour ultimatum from President Bola Tinubu, Finance and Coordinating Minister of the Economy Wale Edun submitted the projected cost implications of implementing a new national minimum wage on Thursday.
The report, delivered just two days after President Tinubu’s directive, outlines various potential new minimum wage levels and the anticipated fiscal impacts on the federal budget for each option.
This move comes in response to the recent nationwide strike by Organized Labour, which took place on Monday and Tuesday, demanding an increased minimum wage for government workers. Among other demands, the labour unions also called for the reversal of the recently increased electricity tariffs.
The industrial action was temporarily suspended for five days by the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) after an agreement with the federal government to resume negotiations and establish a new minimum wage within a week.