The Nigerian presidency has debunked reports that the Minister of Finance, Wale Edun, proposed a new minimum wage of N105,000 in the new minimum wage template.
The special adviser to the president on Information and Strategy, Bayo Onanuga, described the report as false.
“The Honourable Minister of Finance and coordinating minister of the economy, Wale Edun has not proposed N105,000 minimum wage. The contrary story being disseminated is false,” he said in a terse statement.
Earlier, there were reports that Edun had submitted a proposal to Tinubu to increase the minimum wage to N105,000 per month.
The development comes after the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) called off their strike over the government’s refusal to increase the minimum wage to N494,000.
The strike was suspended after the government agreed to negotiate a new minimum wage within a week.
President Tinubu had mandated Edun to provide a template for the new minimum wage by Wednesday, in fulfilment of the government’s agreement with the labour unions.
*Leaked fiscal policy documents unapproved, unofficial- Presidency
Meanwhile, the Presidency has cautioned the public and the media against the use of two fiscal policy documents circulating in the media and social media platforms, describing them as unofficial and subject to review.
The documents, titled “Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024” and “Accelerated Stabilisation and Advancement Plan (ASAP)”, are said to contain proposals on economic policy, including customs tariffs and fuel subsidy.
But the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, in a statement in Abuja, clarified that none of the documents have been approved or finalised, reminding all that policymaking is an iterative process involving multiple drafts and discussions.
The Presidency, however, urged the public, especially the media, to disregard the two documents and cease further discussions on them.
The statement explained that the Coordinating Minister of the Economy, Wale Edun, assured that the official position on the documents will be made available after comprehensive reviews and approvals are completed.
Quoting the Coordinating Minister of the Economy on the documents, the statement said “It is important to understand that policymaking is an iterative process involving multiple drafts and discussions before any document is finalised.
“We assure the public that the official position on the documents will be made available after comprehensive reviews and approvals are completed.”
Emanating from the two documents have been reports second-guessing the government’s policy on customs tariffs, fuel subsidies, and other economic matters.
“The government wants to restate that its position on fuel subsidy has not changed from what President Bola Ahmed Tinubu declared on 29 May 2023. The fuel subsidy regime has ended. No N5.4trn is being provisioned for it in 2024, as being widely speculated and discussed,” Edun stated.
The Coordinating Minister of the Economy further clarified: “As previously stated by government officials, including myself, President Tinubu announced the end of the fuel subsidy program last year, and this policy remains firmly in place.
“The Federal Government is committed to mitigating the effects of this removal and easing the cost of living pressures on Nigerians.
“Our strategy focuses on addressing key factors such as food inflation, which is significantly impacted by transport costs. With the implementation of our CNG initiative, which aims to displace high PMS and AGO costs, we expect to further reduce these costs.
“Our commitment to ending unproductive subsidies is steadfast, as is our dedication to supporting our most vulnerable populations.”
The Presidency urged the media to exercise restraint and verify documents through official channels to ensure accurate information and avoid misleading the public.
“We call on the media to always exercise necessary checks and restraints in the use of documents that do not emanate from official channels so that the members of the public are properly informed, guided, and educated on government policies and programmes”, it said.
