Minister of Finance, Mr. Wale Edun, has met the 48-hour deadline set by President Bola Ahmed Tinubu to present a new minimum wage template.
According to online reports, the template proposes a new minimum wage of N105,000 (approximately $220 USD) per month for Nigerian workers. President Tinubu is currently reviewing the proposal, and an official announcement is expected to be made soon.
It is important to note that the Labour Unions had gone on a strike action on Monday after their meeting with the National Assembly leadership failed to yield a satisfactory result. The strike had a significant impact, grinding economic activities to a halt across the country, including the closure of international airports, schools, courts, banks, and hospitals.
The presentation of the new minimum wage template by the Minister of Finance is a crucial step towards resolving the ongoing dispute between the government and the Labour Unions. The outcome of the President's review and the subsequent announcement will be closely watched by the Nigerian public and the international community.
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