Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, has presented a new minimum wage template to President Bola Tinubu, meeting the 48-hour deadline.

Edun, along with the Minister of Budget and National Planning, Atiku Bagudu, presented 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.

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 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.