The Finance Minister and Coordinating Minister of the Economy, Wale Edun, has submitted a report on the financial implications of a new national minimum wage to President Bola Tinubu.

This submission follows Tinubu’s directive for the finance minister to present the proposed minimum wage figures and cost analysis within 48 hours.

Sources indicate that Edun’s report details several potential new minimum wage levels and their respective impacts on the federal budget.

Earlier this week, Organized Labour began a nationwide strike demanding a higher minimum wage for government workers and a reversal of the recent electricity tariff hike.

The strike was paused for five days by the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) after an agreement with the federal government to resume negotiations and settle on a new minimum wage within a week.