The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, assured the nation “there is no cause for alarm” after a crucial meeting with President Bola Tinubu at the Presidential Villa in Abuja on Thursday.
Accompanied by the Minister of Budget and Economic Planning, Atiku Bagudu, the finance minister did not divulge specific details regarding the agenda of their discussion.
However, the meeting is widely speculated to be linked to the ongoing deliberations on the new national minimum wage.
This high-level meeting follows President Tinubu’s directive on Tuesday, urging Mr Edun to prepare and present detailed financial implications for a revised minimum wage to the tripartite committee, which includes the government, labour, and the private sector.
The urgency of these orders underlines the government’s commitment to resolving the contentious minimum wage issue, which has repeatedly stalled negotiations.
The recent tripartite committee session on Wednesday ended inconclusively because the government could not present a new wage proposal, continuing the impasse.
Previously, the government and the Organized Private Sector had proposed a minimum wage of ₦60,000, which was outrightly rejected by organized labour representatives.
Expectations are mounting as the government team is slated to unveil a new proposed figure at a meeting scheduled for 2 pm today.
This meeting is pivotal as it could potentially end the ongoing standoff between the government and labour unions over wage adjustments amidst rising living costs.
