President Bola Tinubu has been presented with the projected cost implications of implementing a new national minimum wage.
Ministers of Finance and Coordinating Minister of the Economy and that of Budget and National Planning, Wale Edun and Atiku Bagudu respectively, made the presentation to the President in his office at the Presidential Villa in Abuja.
Edun verified the submission and reassured that “there is no cause for alarm” after making the submission.
It would be recalled that the president on Tuesday asked Edun to present the cost implications of the new minimum wage to him in two days.
This is despite the fact that negotiations were still on going on the amount that should be the minimum wage.
Secretary to the Government of the Federation, Senator George Akume led 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 met with labour leaders on Monday where the nationwide strike called by labour was suspended for five days to allow for the continuation of the negotiations.
The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC), on Friday last week ordered its members nationwide to down tools indefinitely beginning from last Monday.
This led to the shutting down of airports, the national grid, schools, offices of both the federal and state governments as well as schools and banks nationwide, thus paralyzing economic and social activities across the country,
Following the Monday meeting, labour suspended the strike but for only five days on Tuesday for five days after signing a commitment with the Federal Government to resume negotiations and come up with a new minimum
