FOLLOWING the 48-hour ultimatum issued by President Bola Tinubu, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has submitted the projected cost implications of the new minimum wage to the President.

Edun, alongside Minister of Budget and National Planning, Atiku Bagudu, presented the details to the President in his office at the Presidential Villa in Abuja on Thursday, June 6.

Confirming the submission while addressing State House correspondents after meeting with the President, Edun noted that “there is no cause for alarm.”

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The ICIR on Tuesday, June 4, reported that the President had ordered the Minister of Finance to present a template for the proposed minimum wage, giving him a 48-hour ultimatum.

According to the Minister of Information and National Orientation, Mohammed Idris, the President is determined to go with whatever the tripartite committee working on the new wage sets, while also considering the welfare of Nigerians.

He added that the President directed the committee to work together to give Nigerians an “affordable, sustainable, and realistic” minimum wage.

THE organised labour in Nigeria had declared a nationwide strike which started on Monday, June 3, over the federal government’s failure to meet its demand for the new minimum wage.

The labour, led by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), shut down the nation, including its banks, airports, schools, power and train stations.

However, on Tuesday, June 4, the president of the TUC, Festus Osifo, announced that the strike had been ‘relaxed’ for one week after a joint extraordinary national executive council meeting of the unions.

The announcement followed an agreement reached by the labour leaders with the federal government’s delegation at the Office of the Secretary to the Government of the Federation in Abuja, on Monday night – the day the strike began.