The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Thursday said “there is no cause for alarm”after meeting with President Bola Tinubu at the presidential Villa, Abuja.
Edun, along with the Minister of Budget and National Planning, Atiku Bagudu, presented President Tinubu with the cost implications of the new minimum wage in his office at the presidential villa in Abuja.
Edun’s submission of the cost implication follows a 48-hour ultimatum issued to him by President Tinubu on Tuesday during a meeting with the government negotiation team on the new minimum wage led by the Secretary to the Government of the Federation, Senator George Akume.
Other team members at the meeting included the Ministers of Finance, Budget and National Planning, Labour, and Information, as well as the Group Managing Director and Chief Executive Officer of the Nigeria National Petroleum Company Limited.
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It will be recalled that organised labour, comprising the Nigeria Labour Congress and Trade Union Congress, had embarked on a nationwide strike on Monday to demand an increased minimum wage for workers and the reversal of the recently increased electricity tariffs for Band A.
However, the labour union leadership suspended the strike on Tuesday for five days after signing a commitment with the Federal Government to resume negotiations and come up with a new minimum wage within a week.
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