The Presidency has firmly denied recent reports suggesting that the Federal Government is proposing a new minimum wage of N105,000. 

Bayo Onanuga, the Special Adviser to the President on Information and Strategy, dismissed these claims as false on Thursday.

The speculation emerged following a meeting at the Presidential Villa, where President Bola Tinubu was presented with the cost implications of implementing a new national minimum wage. The Minister of Finance, Wale Edun, and the Minister of Budget and National Planning, Atiku Bagudu, submitted the template for the proposed wage increase to the President.

Minister Edun confirmed that the template had been submitted but assured the public that there was no cause for alarm regarding the figures discussed. President Tinubu is currently reviewing the proposal, with an official announcement expected in the near future.

Despite this, rumors quickly spread, suggesting that the finance minister had proposed a minimum wage of N105,000. Onanuga addressed these rumors directly in a post on his X account, stating, “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.”

In parallel developments, the Tripartite Committee on National Minimum Wage, which includes representatives from the government, employers, and labor unions, has faced delays. 

The committee’s meeting, initially scheduled for Thursday, was postponed to Friday due to the unavailability of the cost template for the new minimum wage. This marks the second adjournment in 24 hours.

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