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    Prosecutors demand six-year prison sentence for Simon Ekpa

    Prosecutors demand six-year prison sentence for Simon Ekpa

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

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    Wike describes Seyi Makinde as chief architect of PDP problems

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    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

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    • Nigeria
    • Africa
    • World
  • Economy
    • All
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    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

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    Buhari says Nigeria security and economy improved during his tenure

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    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    • Economic Data
  • Business
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    • Companies
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    CUTIX PLC reports N1.1 billion profit for the FY ended April 2025

    Honeywell Flour Mills Plc reports N14.6 billion profit for FY ended March 2025

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    The Frontier Fund unit holders to get N17 per unit distribution

    Banks begin to charge taxes on bonds, T-bills as exemption expires

    Skyway Aviation Handling Company Plc announces N0.6 final dividend for 2024 FY

    Dangote Refinery reduces petrol price by N15 nationwide

    Dangote Refinery reduces petrol price by N15 nationwide

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    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

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    NGX RegCo suspends Trading of Oando Plc shares

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    SEC approves Busha and Quidax as crypto exchanges in Nigeria

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Fuel Subsidy: NLC, TUC suspend planned nationwide strike after meeting with FG

Tuesday, 6 June 2023, 6:48 am
in News, Nigeria
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NGX suspends trading in the shares of four listed companies
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The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have suspended the planned nationwide strike and mass protests scheduled for Wednesday over the removal of the petrol subsidy.

The suspension was announced by the organised labour after  a meeting of its leaders and representatives of the federal government late Monday night.

The labour centres and the federal government are to reconvene on June 19 for further negotiation.

Meanwhile, the FG on Monday obtained an order from the National Industrial Court (NIC) restraining the NLC and the TUC from embarking on any form of strike.

Investogist reported that the NLC was absent at the meeting between the government representatives and organised labour on Sunday but representatives of the Trade Union Congress (TUC) present.

Here are the resolutions at the Monday meeting between the Trade Union Congress (TUC), Nigeria Labour Congress (NLC), and the Federal Government:

1. The Federal Government, the TUC and the NLC to establish a joint committee to review the proposal for any wage increase or award and establish a framework and timeline for implementation.

2. The Federal Government, the TUC and the NLC to review World Bank Financed Cash transfer scheme and propose inclusion of low-income earners in the program.

3. The Federal Government, the TUC and the NLC to revive the CNG conversion program earlier agreed with Labor centers in 2021 and work out detailed implementation and timing.

4. The Labour centers and the Federal Government to review issues hindering effective delivery in the education sector and propose solutions for implementation.

5. The Labour centers and the Federal Government to review and establish the framework for completion of the rehabilitation of the nation’s refineries.

6. The Federal Government to provide a framework for the maintenance of roads and expansion of rail networks across the country.

7. All other demands submitted by the TUC to the Federal Government will be assessed by the joint
committee.

Consequently, the parties agreed as follows:
A. The NLC to suspend the notice of strike forthwith to enable further consultations.
B. The TUC and the NLC to continue the ongoing engagements with the Federal Government and secure closure on the resolutions above.
C. The Labour Centers and the Federal Government to meet on June 19, 2023, to agree on an implementation framework.

Signed:
Comrade Engr. Festus Osifo, President, TU; Comrade Nuhu Torò, Secretary General; TUC, Comrade Joseph/Ajaero President, NLC; Comrade Emmanuel Ugboaja mni, General Secretary, NLC; Ms. Kachollom S. Daju, Permanent Secretary, Federal Ministry of Labour and Employment; Hon. Femi Gbajabiamila, Speaker House of Representatives.

After due consultations with the Labour Leaders, a consensus leading to the suspension of the planned nationwide strike has been reached. The parties shall continue to dialogue on the implementation of the agreed terms. pic.twitter.com/VrMmlziPu9

— Femi Gbajabiamila (@femigbaja) June 5, 2023

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

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