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Finance Minister Presents New Minimum Wage Options to Tinubu

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The Minister of Finance, Wale Edun, on Thursday, submitted a comprehensive report outlining various options for the new minimum wage to President Bola Tinubu.

The submission took place at the presidential villa in Abuja, where Edun was joined by Mohammed Idris, Minister of Information and National Orientation, and Atiku Bagudu, Minister of Budget and National Planning.

The report presented by Edun included several potential minimum wage levels, each accompanied by an analysis of its fiscal implications on the federal budget.

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) had suspended their nationwide strike to return to talks with the tripartite committee concerning the new national minimum wage.

The suspension follows a pivotal meeting on Monday between Labour leaders, including the Secretary to the Government of the Federation (SGF), George Akume, and other government officials.

During the discussions, it was resolved that President Bola Ahmed Tinubu’s administration would commit to implementing a new minimum wage higher than N60,000.

This move by the Organised Labour to suspend the strike for five days is intended to create an environment conducive to intensive negotiations.

The next few days will be crucial as the tripartite committee works to finalize the new minimum wage agreement.

Both the government and Labour unions are under pressure to deliver a resolution that is both fair and timely, ensuring that the economic stability and welfare of Nigerian workers are safeguarded.

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