Reports which made the rounds this Thursday evening, June 6, 2024 suggest that Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has proposed N105,000 as the new minimum wage.

Among the serious papers which published the reports in their online editions are The Guardian, The PUNCH and Western Post, which is believed to be published by a presidential aide.

President Bola Ahmed Tinubu is said to be currently reviewing this proposal, and an official announcement is expected soon.

The Presidency has, however, described the reports as false.

Dismissing the reports, Special Adviser to the President on Information and Strategy, Bayo Onanuga, wrote on his X account: “The Honourable Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has not proposed N105,000 minimum wage.

“The contrary story being disseminated is false.”

Edu had submitted his report containing the new minimum wage template to Tinubu at about noon on Thursday.

The minister, who was accompanied by Atiku Bagudu, Minister of Budget and National Planning, left the President’s office at about 12.45 pm, after submitting the report.

The Ministers who however declined comments on the figures said ”no cause for alarm”, telling workers to expect "a good figure".

Pressed further, Edun simply urged Nigerians to ” expect a good figure”

BusinessDay gathered that the team moved from the Presidential Villa to the venue of the Tripartite Committee meeting on Minimum Wage, where they are expected to unveil the new figure.

President Tinubu had on Tuesday, given Edun 48 48-hour ultimatum to come up with the cost implications of the new minimum wage.

It would be recalled that the Organised Labour had on Tuesday called off its indefinite nationwide strike, to allow the government to come up with acceptable to all the parties.

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