Finance Minister Did Not Propose N105,000 As New Minimum Wage, Says Onanuga

The Special Adviser on Information and Strategy to the President, Bayo Onanuga, says the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, did not propose N105,000 as the new minimum wage.

There were claims that Edun submitted the proposal to President Bola Tinubu on Thursday. But Onanuga labelled it “false”.

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“The Honorable Minister of Finance and coordinating minister of the economy, Wale Edun has not proposed N105,000 minimum wage,” he posted on his X account late Thursday. “The contrary story being disseminated is false.”

Tinubu had on Tuesday directed Edun to present a template on a new minimum wage and an analysis of the associated costs within 48 hours – after organised labour suspended its strike to pave the way for further negotiations.

Organised labour had proposed N615,500 and then N494,000 as the new national minimum wage, which the government said was unrealistic.

The government offered N60,000 which was rejected by labour.

But the Secretary to the Government of the Federation (SGF) George Akume in a meeting with labour leaders and government representatives assured that Tinubu is committed to a new minimum wage higher than N60,000.