The Minister of Finance, Wale Edun, on Thursday submitted the estimated cost implications of implementing a new national minimum wage to President Bola Tinubu. Officials in the know of the matter reported that Edun submitted a proposal of N105,000 to the president as the new minimum wage.

In a video posted on its official X handle, the Nigeria Labour Congress (NLC) had noted that as of the time of making the post on Thursday morning, nothing new had been offered as the new minimum wage as the Minister of Finance, Wale Edun, was yet to prepare a new template as told by President Bola Tinubu.

“Update: One Week Ultimatum, They have not presented any different thing yet. FG show Workings ooo! no be to dey yarn cho! cho! cho! One week is at the corner already. #We DEMAND A LIVING WAGE NOW!” the NLC had said on its X account.

On June 4, President Tinubu asked that the finance minister present a new wage template within two days but as of the morning of June 6, which is two days after the declaration, the Labour Congress noted that there was nothing new yet.

There is a disagreement between organised labour and the government. While organised labour is asking for a wage of N494,000, the government said it would pay N60,000.

However, few hours later, the Mr Edun, along with the Minister of Budget and National Planning, Atiku Bagudu, submitted the cost implementation of the new minimum wage to President Tinubu in his office at the State House, Abuja.

Edun speaking with State House correspondents after meeting with the President, said, “There is no cause for alarm.”