The Nigeria Labour Congress (NLC) has suspended the planned strike to commence on Wednesday over the removal of the petrol subsidy.
The resolution was announced by the Speaker of the House of Representatives, Femi Gbajabiamila and confirmed by the President of the Nigerian Labour Congress, Joe Ajaero, after a six-hour meeting between the Federal Government and the organized labour at the Presidential Villa, Abuja.
At the meeting, a 7-point resolution was reached on the issues surrounding the removal of subsidy on petrol.
Other key resolutions include establishing a joint committee comprising the Federal Government, and organised labour to review proposals for wage increase upward.
Additionally, the World Bank financed cash transfer scheme will be reviewed, with a focus on proposing the inclusion of low-income earners in the program.
The parties are to reconvene on June 19, 2023, to agree on an implementation framework.