President Bola Tinubu has instructed the Minister of Finance, Wale Edun, to present the cost implications of implementing a new minimum wage to him within 48 hours.

According to Mohammed Idris, Minister of Information and National Orientation, the President held a meeting with the federal government’s representatives involved in the negotiations with labour unions on the minimum wage.

Speaking to journalists in Abuja on Tuesday, Idris revealed that the President’s directive is aimed at ensuring a comprehensive understanding of the financial implications of a new minimum wage on the economy.

He said, “All parties to the negotiation of the new minimum wage would work together with the organised labour to present a new minimum wage for Nigerians in one week.

“All of us will work together assiduously within the next one week to ensure that we have a new wage for Nigeria that is acceptable sustainable and also realistic.”

This development comes as labour unions and the federal government continue negotiations on a new minimum wage, with labour demanding an increase to match the current realities in the country.

More to follow…