Presidency denies reports it has settled for N105,000 as minimum wage

The Presidency has denied reports that the Federal Government is proposing N105,000 as the new minimum wage, describing the claim as “false”.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, took to social media, on Thursday, to debunk the report, stating that the Minister of Finance, Wale Edun, did not propose the figure in the new minimum wage template.

The development comes after Edun submitted the cost implications of implementing a new national minimum wage to President Bola Tinubu at the Presidential Villa on Thursday, alongside the Minister of Budget and National Planning, Atiku Bagudu.

Edun had reassured that “there is no cause for alarm” when questioned about the figure, but the submission sparked speculations about the proposed minimum wage.

Onanuga’s denial has punctured the claims, suggesting that the government may not be considering a wage hike as high as N105,000.

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He wrote, “The Honourable Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has not proposed N105,000 minimum wage. The contrary story being disseminated is false.”

The Presidency’s swift response indicates a desire to manage expectations and avoid potential backlash from stakeholders.

As President Tinubu reviews the proposal, labor leaders and workers eagerly await an official announcement on the new minimum wage.

The development highlights the ongoing negotiations between the government and labor unions, with the Presidency seeking to balance fiscal realities with labor demands.

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