Minister of Finance and Coordinating Minister of The Economy, Mr Wale Edun, on Thursday submitted to President Bola Tinubu a new minimum wage template to be used for negotiation with the tripartite panel comprising of government officials, labour and the organized private sector (OPS).

Edun submitted the document to the President in his office at the State House, Abuja.

Prodded by reporters on how far government negotiations with the organized labour had gone after submitting the report, Edun informally told newsmen "No cause for alarm".

The Finance Minister was in the company of the Minister of Budget and National Planning, Atiku Bagudu, and his Information and National Orientation counterpart, Mohammed Idris.

President Tinubu had on Tuesday mandated him to work out a template to be adopted as the basis for negotiation with the Presidential panel.

The President had also assured that he was ready to pay more than the N60,000 offered by the government's team as the maximum the government could pay as minimum wage to workers.

The inability of the government team to offer more than N60,000 while the labour was demanding N464,000 as.minimum wage led to a nationwide strike that was recently relaxed.