Nigeria’s Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun has proposed a new minimum wage.

Punch reported that he presented a new minimum wage template N105,000 (approximately $220) per month for Nigerian workers to President Bola Ahmed Tinubu before the expiry of the 48-hour deadline.

Edun submitted the projected cost implications of implementing a new national minimum wage to Tinubu on Thursday.

Edun, along with the Minister of Budget and National Planning, Atiku Bagudu, presented President Tinubu with the cost implications of the new minimum wage in his office at the presidential villa in Abuja.

According to Western Post, the new proposal suggests a minimum wage of N105,000 (approximately $220) per month for Nigerian workers.

Tinubu is currently reviewing this proposal, and an official announcement is expected soon.

This development follows a recent strike by Labour Unions, which began on Monday after their meeting with the National Assembly leadership failed to produce a satisfactory outcome.

The strike significantly disrupted economic activities nationwide, leading to the closure of international airports, schools, courts, banks, and hospitals.

Members of the organised labour comprising the Nigeria Labour Congress and Trade Union Congress, on Tuesday, suspended their strike for five days.