Financial News Highlights May 22, 2024 – FG Proposes N54k Min Wage etc

Latest Financial News


FG proposes N54,000 as minimum wage


Indications emerged on Tuesday that the federal government has raised the proposed Minimum Wage from N48,000 to N54,000 but Nkiruka Onyejeocha Minister of State for Labour and Employment, who spoke to BusinessDay at the end of the meeting could not confirm the figures.

According to sources close to the meeting revealed that the proposal was part of the government’s response to Labour’s demands for an N615,000 minimum wage.

“As you know, there is no way the government can give such an amount. But the government is trying to make sure that they give the workers a living wage”

The Minister however revealed that the meeting will continue on Wednesday (tomorrow), but BusinessDay also gathered that the Organised Labour was yet to react to the federal government proposal.

Wednesday’s meeting will also attract most of the stakeholders who were unable to attend the Tuesday meeting.

Onyejeocha while speaking with BusinessDay, simply noted that “the meeting is going well, we will reconvene tomorrow (Wednesday)”.


Other Financial News Headlines today May 22, 2024:

Manufacturers’ exports ride weaker naira to 9-yr high

Labour’s wage demand to cost FG over N11trn yearly

CBN signals rate pause ahead after third straight hike to 26.25%

For the above and other details, get a printed copy of business day newspaper or better still visit their website.


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