BREAKING: Presidency dismisses N105,000 minimum wage proposal

The Presidency has dismissed reports in sections of the media that the Minister of Finance, Wale Edun, proposed a N105,000 new National Minimum Wage for workers.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, said this in a statement on Thursday.

BAR & BENCH WATCH reportsthat Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, had earlier on Thursday presented a new minimum wage template to President Bola Ahmed Tinubu, meeting the 48-hour deadline.

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.

According to Western Post, the new proposal suggests a minimum wage of N105,000 (approximately $220) per month for Nigerian workers.

Tinubu is currently reviewing this proposal, and an official announcement is expected soon.

This development follows a recent strike by Labour Unions, which began on Monday after their meeting with the National Assembly leadership failed to produce a satisfactory outcome.

The strike significantly disrupted economic activities nationwide, leading to the closure of international airports, schools, courts, banks, and hospitals.

Members of the organised labour comprising the Nigeria Labour Congress and Trade Union Congress, on Tuesday, suspended their strike for five days.