The Nigerian presidency has denied reports that the Minister of Finance, Wale Edun, proposed a new minimum wage of N105,000 to President Bola Ahmed Tinubu.

The special adviser to the president on Information and Strategy, Bayo Onanuga, described the report as false.

“The Honorable Minister of Finance and coordinating minister of the economy, Wale Edun has not proposed  N105,000 minimum wage. The contrary story being disseminated is false,” he said in a terse statement.

Earlier, there were reports that Edun had submitted a proposal to Tinubu to increase the minimum wage to N105,000 per month.

The development comes after the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) called off their strike over the government’s refusal to increase the minimum wage to N494,000.

The strike was suspended after the government agreed to negotiate a new minimum wage within a week.

President Tinubu had mandated Edun to provide a template for the new minimum wage by Wednesday, in fulfilment of the government’s agreement with the labour unions.