Presidency reacts to rumoured ₦105,000 minimum wage proposal by Wale Edun

The Presidency has reacted to a rumour making the rounds that the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has proposed ₦105,000

as the new national minimum wage.

Reports by some media platforms on Thursday, June 6, 2024, claimed that Edun had suggested to President Bola Tinubu to peg the minimum wage at the quoted amount.

This came a few hours after the minister presented the new minimum wage template to Tinubu at the presidential villa in Abuja.

Recall the President had given Edun a 48-hour deadline to produce the template after the organised labour embarked on strike over a disagreement with the government's proposal of ₦60,000.

But the Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed on his X account that the reported N105,000 proposal was false news.

“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,” the presidential aide wrote a few minutes ago.

Edun, alongside the Minister of Budget and National Planning, Atiku Bagudu, presented to Tinubu the projected cost implications of the new minimum wage in his office earlier on Thursday.

The President is reportedly reviewing the proposal with an official announcement expected soon.

Labour gives FG five days to come with acceptable minimum wage

As part of the conditions given before suspending the industrial action on Tuesday, labour unions asked the Federal Government to come up with a new minimum wage proposal of over ₦60,000 in one week.

The strike action disrupted the economy as the national grid was shut down while activities at airports, courts, hospitals and other critical facilities were also grounded to a halt by labour.

Labour later expressly told the government that a token addition to the ₦60,000 earlier proposed minimum wage will not be acceptable.