Minimum Wage Review: Edun Presents Fresh Options to Tinubu
Wale Edun provides Tinubu with new minimum wage possibilities and related expenses.
President Bola Tinubu has received new national minimum wage options and their estimated financial implications from Minister of Finance and Coordinating Minister of the Economy Wale Edun.
Tinubu issued Edun a 48-hour deadline on Tuesday to provide a proposal on a new minimum wage and an analysis of the related expenses.
The minister included a number of possible new minimum wage levels in the report that Edun sent in on Thursday. She also included an analysis of the expected financial effects of each choice on the federal budget.
This action is an important step in the ongoing process of setting a new national minimum wage, a subject of recent discourse.
The government criticized organized labor's June 3 proposal, saying it was unreasonable, for a new national minimum wage of N615,500 and N494,000.
The federal government declared that Tinubu had pledged to raise the federal minimum wage to above N60,000 on the same day.
One of the main decisions made by organized labor and the federal government after a meeting in the federation's secretary's office was this one.
The federal government and labor unions are part of a tripartite committee that met earlier today to discuss setting a new minimum wage for Nigerian workers.
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