Nigeria’s main trade union federations have decided to suspend the nationwide strike, addressing concerns about the rising cost of living. The central issue at the heart of the strike is President Bola Tinubu’s decision to remove the subsidy on petrol prices.
Initially, the unions demanded the government to reverse the decision on the subsidy by Wednesday. When the authorities did not comply, the unions mobilized their members for protests and marches across the country on Wednesday.
However, a statement from the Nigerian presidency revealed that the unions have now agreed to further talks. Following fruitful discussions with President Tinubu, the labor leaders expressed confidence in his ability to consider all the issues put forward by the labor movement openly and honestly. As a result, the protests have been halted.
The Nigeria Labour Congress conveyed their decision for a return to a new and reinvigorated dialogue process, according to Reuters news agency.
Since taking office in May, President Tinubu has initiated a series of economic reforms. The removal of the petrol subsidy, which cost the government $10 billion (£8 billion) last year, is seen as a measure to redirect funds towards targeted programs to support the less privileged.