By Halimah Olamide
The Minister of Finance, and Coordinating Minister of the Economy, Wale Edun, has submitted the projected cost implications of implementing a new national minimum wage..
The development is following a 48-hour ultimatum issued to him by President Bola Ahmed 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.
Edun and Minister of Budget and National Planning, Atiku Bagudu, presented it at the presidential villa in Abuja on Thursday.
Addressing the State House correspondents after meeting with the President, Edun verified the submission and reassured that there is no cause for alarm.
Recall that organised labour announced an industrial action last Thursday, which took effect on Monday 3rd.
Meanwhile, the industrial action has now been suspended for five days by the leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) after signing a commitment with the federal government to resume negotiations and develop a new minimum wage within a week.
In attendance at the meeting were the Ministers of Labour and Employment, Nkeiruka Onyejeocha, and Information and National Orientation, Mohammed Idris, as well as the Group Managing Director and Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL), Mele Kyari.