Minimum Wage: 5 Things To Know About Finance Minister’s Template

By Oyewale Oyelola

President Bola Tinubu on Tuesday directed Minister of Finance, Wale Edun to produce template to show cost implications of new minimum wage.

The Finance Minister, Wale Edun reportedly submitted the template to the President at State House, Abuja on Thursday.

However, the official submission of the report triggers rumor about N105,000 minimum wage. This was promptly dismissed by the Special Adviser Information and Strategy to President, Bayo Onanuga.

It’s therefore imperative for Nigerians to know what the minimum wage template is all about.

President Bola Tinubu with Minister of Finance, Wale Edun

1. Minimum Wage template will contain proposed amount, possibly more than one

2. It will contain cost implications of implementation of the minimum wage

3. The Template will also include government revenue and sustainability of paying approved minimum wage.

4. The template will guide the Tripartite Committee on National Minimum Wage.

5. It’s noteworthy that the figure is not law as this would be subjected by different representatives in the committee.

The Tripartite committee are expected to meet on Friday to continue negotiations on new minimum wage.

Recall N60,000 proposal by federal government led to nationwide strike on Monday and Tuesday.

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