The Federal Government has increased its offer of a new national minimum wage to N62,000, while organised labour has reduced its demand from N494,000 to N250,000.
The organized private sector also backed the government offer of N62,000.
This comes after the Minister of Finance, Wale Edun, submitted the cost implication of minimum wage to President Bola Tinubu.
The Federal Government has initially offered N60,000 minimum wage, a figure the Organized labour rejected before it declared a nationwide strike.
Subsequently, the Secretary to the Government of the Federation, George Akume assured Labour that President Bola Tinubu was committed to paying more than N60,000 minimum wage.
Already the Tripartite Committee on New National Minimum Wage has adjourned as there was no consensus at the meeting.
