Presidency Denies Reports of Proposed N105,000 Minimum Wage

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Abuja, Nigeria – The Presidency has dismissed circulating reports claiming that the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has proposed a new minimum wage of N105,000.

Bayo Onanuga, the Special Adviser to the President on Information and Strategy, addressed the misinformation on his X account on Thursday. Onanuga clarified, “The Honourable Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has not proposed N105,000 minimum wage. The contrary story being disseminated is false.”

Earlier in the day, Edun presented a financial template to President Bola Tinubu, meeting a 48-hour deadline for the submission. This presentation included the projected cost implications of implementing a new national minimum wage, a topic of significant interest following recent labour union actions.

Edun, alongside Minister of Budget and National Planning Atiku Bagudu, briefed President Tinubu at the presidential villa in Abuja. According to reports from Western Post, a new proposal suggesting a minimum wage of N105,000 (approximately $71) per month for Nigerian workers is under review by President Tinubu, with an official announcement expected soon.

This development comes in the wake of a nationwide strike by labour unions, which began on Monday after negotiations with the National Assembly leadership failed to yield a satisfactory outcome. The strike significantly disrupted economic activities across the country, leading to the closure of international airports, schools, courts, banks, and hospitals.

In a bid to resume negotiations, members of the Nigeria Labour Congress and Trade Union Congress suspended their strike for five days on Tuesday. The situation remains fluid as stakeholders await further developments and an official statement from the Presidency regarding the new minimum wage proposal.

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