Finance Minister Wale Edun has submitted various options for a new national minimum wage and their projected costs to President Bola Tinubu.
Edun’s report, delivered Thursday, includes several potential minimum wage levels and their expected fiscal impact on the federal budget.
On June 3, organized labor proposed N615,500 and N494,000 as the new minimum wage, but the government deemed these figures unrealistic. On the same day, Tinubu committed to a national minimum wage higher than N60,000, as agreed upon in a meeting between the federal government and organized labor.
Today, the tripartite committee, comprising the federal government and labor unions, resumed discussions on a new minimum wage for Nigerian workers.