FG Proposes N62,000 Minimum Wage, Labour Unions Demand N250,000

The Federal Government of Nigeria has raised its offer for a new national minimum wage to ₦62,000. Meanwhile, organized labor has lowered its demand from ₦494,000 to ₦250,000.

This update comes after the Minister of Finance, Wale Edun, submitted the financial implications of the new minimum wage to President Bola Tinubu.

A source involved in the negotiations recently confirmed this development to the media.

The source expressed frustration, noting that after much delay, the government proposed ₦62,000, supported by the private sector, while labor reduced its demand to ₦250,000. The source described the situation as embarrassing.

Previously, President Tinubu had instructed Minister Edun to present the cost details for a new minimum wage within two days.

This directive was given during a meeting at the Presidential Villa in Abuja, attended by the government negotiation team led by the Secretary to the Government of the Federation, George Akume.

Although the proposal has been submitted to the President, it has not yet been publicly disclosed.