The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has submitted the projected cost implications of implementing a new national minimum wage to President Bola Tinubu.
The submission comes two days after President Tinubu issued a 48-hour directive to Edun to present a proposed new minimum wage figure and analysis of the associated costs.
The Finance Minister’s report is to outline several potential new minimum wage levels along with the anticipated fiscal impacts on the federal budget of each option.
“All parties to the negotiation of the new minimum wage would work together with the organised labour to present a new minimum wage for Nigerians in one week.
“All of us will work together assiduously within the next one week to ensure that we have a new wage for Nigeria that is acceptable sustainable and also realistic,” the Minister of Information, Mohammed Idris assured Nigerians on Tuesday.
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