The Nigerian Labour Congress, NLC, have suspended their planned industrial strike after reaching an agreement with the Federal Government at 2:53am.
Part of the agreement was for the government to continue with it’s deregulation policy while plans are underway to roll out palliatives to cushion the effect of the subsidy removal.
Also the new electricity tariff has been suspended by the Federal Government for 2 weeks with Festus Keyamo heading a joint committee which will look at the justification for the new electricity tariff.
FG & LABOUR reach agreement at 2:53am. Deregulation to stay as Govt rolls out palliatives for labour (details in 2 weeks); Electricity tariffs suspended by Govt for 2 weeks with a joint Committee headed by @fkeyamo to examine the justification for the new policy. Strike suspended pic.twitter.com/9tOTlJ9o1l
— Festus Keyamo, SAN (@fkeyamo) September 28, 2020
On the issue of the deregulation of the oil sector, the Federal Government said, “NLC and TUC demonstrated absolute faith in our country and showed understanding on inevitability of PMS deregulation and jointly charted way forward to secure local refining sufficiency through greater stakeholder inclusiveness and transparency. We will follow through diligently.”
Below are documents and signatories to the agreement