The Nigeria Labour Congress, Trade Congress and Civil Society groups have suspended planned nationwide protests over increase in the prices of pump price and electricity tariff.
The suspension follows agreement reached with the federal government to provide palliatives in the areas of transport, power, housing, agriculture and humanitarian support.
Labour had planned to cripple economic activities, over the hike in the prices of fuel and electricity.
Government has now agreed to suspend for two weeks, the increment in electricity tariff, to allow for a joint Committee headed by Minister of State for Labour Festus Keyamo, to examine the justification for the new policy.
Other members of the 8-man committee include Minister of State for Power, Chairman of the NERC, Presidential Aide on Infrastructure and leaders of the NLC and TUC.
For the increase in fuel pump price, both parties agreed that the deregulation should be sustained in order to cut down waste and increase local production, while the federal government will roll out palliatives that will cushion the economic impact.
Government is to facilitate the removal of tax on the minimum wage to cushion the impacts of the policy on the lowest vulnerable.
It will also immediately make available 133 CNG/LPG driven mass transit buses for workers while more would be rolled out to states before December 2021.
The NNPC is to expedite the rehabilitation of the nation’s four refineries. The two refineries in Port Harcourt would be fixed up to 50 per cent by December 2021 while timelines for the refineries in Kaduna and Warri would be released latter.
Government is to also allocate 10% of its housing initiative to Nigerian workers under the auspices of NLC and TUC.
The agreement was signed by all parties but labour says if Government fails to implement the agreement after two weeks, no notice will be given before it embarks on strike.