Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has stated that the minimum wage demanded by labour unions is unaffordable for all sectors.

Speaking on Channels Television’s ‘Sunday Politics’, Edun addressed the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) proposal of N615,500, citing high living costs. The unions declared an indefinite strike starting June 3, following the government’s refusal to raise the minimum wage from the proposed N60,000.

He emphasized the need to consider affordability for states, local governments, and the private sector. He noted that the government is legally required to set a new wage scale every five years, but it must be feasible for all employers.

Edun highlighted that the minimum wage impacts all sectors and must be sustainable, suggesting that there are other ways to support workers’ living costs beyond increasing wages. He expressed optimism that a mutually beneficial resolution could be reached.