Finance Minister Submits Cost Implications of Minimum Wage to Tinubu Thursday

Two days after being directed by President Bola Tinubu to develop a new wage template, Finance Minister Wale Edun is set to present the cost implications of this initiative today, Thursday, June 6. This development coincides with the reconvening of the tripartite committee on the new national minimum wage on the same day.

Finance Minister Submits Cost Implications of Minimum Wage to Tinubu Thursday

Edun has expressed optimism that, with cooperation from all parties involved, a beneficial resolution for both Nigerians and the economy can be reached.

Submission of Wage Template

In Abuja, it has been confirmed that Finance Minister Wale Edun will deliver the cost implications of the new minimum wage to President Bola Tinubu on Thursday, June 6. Previous reports indicated that discussions on establishing a new minimum wage were still ongoing.

A senior labor official, serving as a labor representative on the tripartite committee for the minimum wage, told The Punch that the wage template is essential for progressing in the negotiations.

Government Directive

Recalling an earlier statement from Tuesday, June 4, Mohammed Idris, the Minister of Information and National Orientation, informed journalists that President Tinubu had instructed Edun to calculate and present the new minimum wage figures within two days. This deadline culminates today, June 6.

Call for Swift Conclusion

Debo Adeniran, the executive director of the Centre for Anti-Corruption and Open Leadership (CACOL), commented on the protracted minimum wage negotiations, urging both the federal government and labor unions to expedite their discussions. Adeniran stated, “The FG and the labor unions should not waste any more time beyond the 48 hours given to the finance minister. Everything is already concluded; they need to harmonize their positions based on their capacities to raise resources.”

Labor’s Response to Akpabio’s Comments

In related news, It was reported that organized labor dismissed Senate President Godswill Akpabio’s claims that their recent nationwide strike over the disputed minimum wage amounted to economic sabotage. Organized labor argued that Akpabio’s subtle threat—that the Senate might address the labor strike issue in an executive session—displayed a disregard for open and transparent debate, which should be fundamental in parliamentary proceedings.

Read also: