Committee on minimum wage adjourns to enable Finance Minister to meet deadline
by: admin DAS
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, had until the end of the day on Wednesday to submit the financial consequences of the proposed salary rise, therefore the Tripartite Committee on the new National Minimum salary deferred its meeting.
The committee, which included members from the Federal Government, Organized Labor, and the private sector, discussed general topics, the details of which he withheld, according to a person close to the negotiations.
However, as instructed by President Bola Tinubu on Tuesday, the meeting was deferred on Wednesday to provide Minister of Finance Edun the time he needs to gather and report the financial consequences of the planned salary hike.
According to the source, the committee is anticipated to meet again once the Minister of Finance has given a presentation on the financial ramifications, which will guide the discussions over the new minimum wage.
The Federal Government and the organized private sector had proposed ₦60,000, but the organized labor had been seeking for a new minimum salary of ₦695,000.
With the committee working on fresh numbers that could have been provided to the President by the Finance Minister, the deliberations are anticipated to continue today.
“To give the Minister of Finance time to meet the 48-hour deadline that was set for him to present cost implications, the meeting was adjourned.”
“We merely talked about broad topics. We chose to give him time to execute the President’s instruction,” the source stated.
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