Federal Government has increased its offer of a new national minimum wage to N62,000, while organised labour has reduced its demand from N494,000 to N250,000.
This comes after the Minister of Finance, Wale Edun, submitted the cost implication of minimum wage to President Bola Tinubu.
A source confirmed this to our correspondent on Friday night in Abuja.
“After wasting our time, they finally came up with the offer of N62,000 which was backed by the private sector. Labour also reduced ours to N250,000. This is embarrassing,” the source who is part of negotiation from the labour side said.
The PUNCH reports that Tinubu had earlier directed Edun to present the cost implications for a new minimum wage within two days.
The President gave the order at a meeting with the government negotiation team led by the Secretary to the Government of the Federation, George Akume, at the Presidential Villa in Abuja.
Though Edun has submitted the proposal to the president, it has not been made public.
Punch
