The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, met with President Bola Tinubu on Thursday amidst ongoing discussions on a new national minimum wage.

The meeting, held at the State House in Abuja, also included the Minister of Budget and Economic Planning, Atiku Bagudu.

During the meeting, Edun presented a new minimum wage template to President Tinubu, adhering to the 48-hour deadline previously set for him.

After the meeting, Edun addressed the press, stating, “There is no cause for alarm,” but did not provide further details on the discussions.

Sources quoted by WesternPost revealed that the proposed template includes a new minimum wage of ₦105,000 (approximately $220 USD) per month for Nigerian workers.

President Tinubu is currently reviewing the proposal, and an official announcement is expected soon.

It is anticipated that the government team will present the new proposal during today’s meeting of the tripartite committee on minimum wage, which includes representatives from the government, organized labour, and the organized private sector.

The urgency in addressing the minimum wage issue highlights the government’s commitment to resolving the matter, which has stalled negotiations multiple times.

Previously, the government and the Organized Private Sector had proposed a minimum wage of ₦60,000, which was rejected by organized labour representatives, leading to a nationwide strike action on Monday.

The strike was suspended on Tuesday following interventions and agreements signed between the government and labour.