The Minister of Finance, Mr Wale Edun, on Wednesday met the 48-hour deadline to present a new minimum wage template to President Bola Ahmed Tinubu.
According to online reports, the template proposes a new minimum wage of N105,000 (approximately $220 USD) per month for Nigerian workers.
Tinubu is currently reviewing the proposal, and an official announcement would be made soon.
It would be recalled that the Labour Unions went on strike action on Monday after their meeting with the National Assembly leadership could not yield satisfactory result.
The strike grounded all economic activities in the country including the closure of the International airports, schools, courts, banks and hospitals across the country.