Presidency denies N105,000 minimum wage proposal

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THE Presidency has denied reports that the Federal Government was proposing N105,000 as the new minimum wage.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, described the report as false.

The report followed the presentation of the cost implications of implementing a new national minimum wage to President Bola Tinubu at the Presidential Villa yesterday.

The Minister of Finance, Wale Edun, submitted the template to the President alongside the Minister of Budget and National Planning, Atiku Bagudu.

Edun confirmed submitting the template to the President and reassured that  ‘there is no cause for alarm’ when questioned about the figure.

Tinubu was said to be currently reviewing the proposal, and an official announcement is expected soon.

However, the development triggered speculations that the finance minister proposed N105,000 in the new minimum wage template.

Onanuga punctured the claim in a post on his X account.

The presidential aide 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.”