Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has submitted the projected cost implications of implementing a new national minimum wage to President Bola Tinubu.
According to sources, Edun presented the cost implications to the President at the presidential villa in Abuja, accompanied by the Minister of Budget and National Planning, Atiku Bagudu.
Speaking to State House correspondents after the meeting, Edun confirmed the submission and reassured that “there is no cause for alarm.”
This development follows a 48-hour ultimatum issued to Edun by President Tinubu on Tuesday during a meeting with the government negotiation team on the new minimum wage.
The team included the Secretary to the Government of the Federation, Senator George Akume, and other ministers.
The submission comes amidst a nationwide strike by organized labor, which was suspended on Tuesday for five days after the Federal Government agreed to resume negotiations and announce a new minimum wage within a week.
