Femi Gbajabiamila, the Chief of Staff to President Bola Tinubu, made this announcement after concluding talks with the top leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC).

Important decisions made at the meeting include:

The approval of a N25,000 provisional wage increment for all treasury-paid federal government workers over a period of six months.

The commitment of the Federal Government to expedite the delivery of Compressed Natural Gas (CNG) buses to mitigate public transportation challenges that have risen from the removal of the PMS subsidy.

A pledge to allocate funds specifically for micro and small-scale enterprises.

An acknowledgment of the 8.57% spike in diesel prices, as reported by the National Bureau of Statistics, with consumers now paying an average of N854.32 per litre, a significant rise from N786.88 per litre from the previous year.

The commencement of payments, by the Federal Government, of N75,000 to 15 million households at N25,000 monthly from October to December 2023.

The National Bureau of Statistics had highlighted a worrying trend in diesel prices which, spurred by a 7.5% VAT and forex challenges, catapulted from N650 per litre to nearly N950. In light of these developments, Bennett Korie, the President of the Natural Oil and Gas Suppliers Association of Nigeria, had emphasized the severe impact of the VAT on diesel, which had propelled pump prices to staggering heights across the nation.

The meeting, which saw the participation of prominent figures including Lagos State Governor, Babajide Sanwo-Olu, Governor Abdulrazak Abdulrahman of Kwara State, and Governor Dapo Abiodun of Ogun State, also touched upon the longstanding issues between the Road Transport Employees Association of Nigeria (RTEAN) and National Union of Road Transport Workers (NURTW) in Lagos State.

The Federal Government’s suggestions are currently being discussed by the NLC and TUC in an effort to possibly put a stop to their planned industrial action and allow for further discussions on the implementation of the aforementioned resolutions.

Mallam Mohammed Idris, the Minister of Information and National Orientation, reaffirmed the Federal Government’s commitment to addressing these urgent issues and urged workers to return to work rather than go on strike so that solutions could be more easily implemented. The labour union, which was led by Joe Ajaero, president of the Nigeria Labour Congress, and included notable leaders from the TUC and NLC, appeared optimistic about the upcoming discussions.