105, 000 Pay Is A Fake News-FG


The Presidency refuted claims of proposing a new minimum wage of N105,000, dismissing the report as untrue. The report emerged after presenting the cost implications of implementing a new national minimum wage to President Bola Tinubu. The Minister of Finance, Wale Edun, submitted the template alongside the Minister of Budget and National Planning, Atiku Bagudu. Edun confirmed submitting the template, reassuring that there was no cause for concern regarding the figure. Tinubu is currently reviewing the proposal, and an official announcement is expected soon.

Despite speculations that the finance minister proposed N105,000 in the new minimum wage template, Onanuga debunked the claim. The meeting of the Tripartite Committee on National Minimum Wage was adjourned again due to the unavailability of the cost template. This was the second adjournment in 24 hours. On Tuesday, Tinubu directed the finance minister to present the cost implications for a new minimum wage within two days. Although the finance minister submitted the template to the President on Thursday, it was not presented to the Federal Government and Labour representatives, causing concern among senior labour movement members.

The slow pace of talks on the new minimum wage and the government's failure to reverse the electricity tariff hike led Labour to embark on an indefinite strike, prompting an emergency meeting by the Federal Government. To facilitate negotiations, Labour suspended the strike for five days after the President agreed to a national minimum wage higher than N60,000. The tripartite committee pledged to convene daily until a new minimum wage is announced. Tinubu also directed government representatives to collaborate with the private sector and sub-nationals to achieve an affordable wage award. The President's intervention prompted Labour to relax its strike for one week to facilitate negotiations with the Federal Government.

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