President Bola Tinubu on Friday has approved a new national minimum wage for Nigerian workers.
DAILY GIST recalls that the cost template was submitted to the President by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun on Thursday
The template contains the cost implications of implementing a new minimum wage for civil servants
It also outlines the anticipated fiscal impacts on the federal budget of each option.
On Friday, the Nigerian government increased its offer of a new national minimum wage to N62,000.
The organized private sector also backed the government offer of N62,000.
The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) had announced a suspension of the its strike for a week
The Tripartite Committee met to adopt an agenda mandating its members to continue an all-week-long negotiation as part of the pact.
However, the committee adjourned the discussions as there was no consensus at the meeting.
The Nigerian Senate had promised to fast-track passage of a new Minimum Wage Bill once approved by the President
More details to follow….
