The Federal Government has on Friday, June 7, increased its offer for a new national minimum wage from N60,000 to N62,000, while organized labor has reduced its demand from N494,000 to N250,000.
This development follows the submission of the cost implications of the new minimum wage by the Minister of Finance, Wale Edun, to President Bola Tinubu.
A source confirmed this information to The Punch correspondent on Friday night in Abuja.
The statement reads:
“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.”
It would be recalled that President Tinubu had previously directed Wale Edun to present the cost implications for a new minimum wage within two days.
