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Finance Minister Submits Cost Implications of Implementing New Minimum Wage

In line with President Bola Tinubu’s directive, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Thursday submitted the projected cost implications of implementing a new national minimum wage to the President.

The submission comes two days after President Tinubu issued a firm 48-hour deadline for Edun to present a proposed new minimum wage figure and analysis of the associated costs.

Newsbuka.com.ng, learnt that the report submitted by Edun, highlighted several potential new minimum wage levels, along with the anticipated fiscal impacts on the federal budget of each option.

Observers say this move is a crucial step in the ongoing process of determining a new national minimum wage for the Nigerian worker, which has been a topic of discussion in recent times.

Recall that the Federal Government had on Monday announced that President Tinubu had committed to a national minimum wage higher than the current N60,000 it agreed to pay.

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