The federal government has raised the proposed national minimum wage from N60,000 to N62,000. Concurrently, organized labor has reduced its demand from N494,000 to N250,000.
This adjustment comes after the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, presented the cost implications of the new minimum wage to President Bola Tinubu.
The organized private sector has voiced its support for the government’s proposal of N62,000.
More details to follow…
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