FG, Labour Reach Agreement on Measures to Reduce Transport Fares, Food Prices

In a significant development aimed at easing the economic pressure on Nigerians, the Federal Government and the Organized Labour have agreed on concrete steps to reduce transport fares and the prices of essential commodities, especially food. This was a key outcome of a meeting held on Wednesday in Abuja, with both sides focusing on how to alleviate the effects of recent subsidy removal and economic challenges.

Key Measures Agreed Upon:

Transport and Food Prices: The government committed to releasing over 2,000 Compressed Natural Gas (CNG) conversion kits and providing 45 additional CNG buses to complement the 90 already promised. These measures are expected to cut down transportation costs, which in turn will lower the cost of foodstuffs, as the high cost of transport has been a significant factor driving food prices upward.

Minimum Wage Implementation: The government agreed to meet with state governors to ensure the immediate implementation of the new N70,000 minimum wage across the country by October. This decision is seen as part of efforts to cushion the impact of inflation and rising living costs on Nigerian workers.

Labour Participation in Economic Council: To foster collaboration and ensure transparency in policy-making, the Federal Government agreed to include Labour representatives in the national economic council. This will allow labour unions to be directly involved in monitoring and influencing economic policies that impact workers and the general public.

Continuous Engagement: Both parties agreed to keep communication channels open, with ongoing dialogue to avoid future misunderstandings or strikes. Labour had previously expressed concerns about the government’s failure to honour past agreements, but this renewed commitment aims to build trust and reduce conflicts.

Addressing the Fuel Price Crisis

Amidst the negotiations, the House of Representatives also called on the government to reverse the recent hike in petrol prices and explore measures to stabilize the prices of cooking gas. They urged the government to implement targeted interventions, such as temporary price relief, tax reductions, or subsidies for low-income households dependent on liquefied petroleum gas (LPG).

The legislators further pressed the Nigerian National Petroleum Corporation Limited (NNPCL) to expedite the repair and maintenance of the country’s refineries, boosting local refining capacity to reduce reliance on imported fuel. They emphasized that unchecked inflation from rising fuel prices could worsen poverty, increase crime rates, and threaten economic stability.

Government’s Commitment to Long-Term Solutions

At the meeting’s conclusion, the Minister of Information and National Orientation, Alhaji Mohammed Idris, reiterated the government’s pledge to continuously engage with Labour on issues affecting the nation. Idris emphasized that future decisions would be based on consultations rather than imposing policies that might lead to strikes or protests.

He also hinted at ongoing efforts to complete the refurbishment of five domestic refineries, which are expected to contribute to long-term energy stability and reduce Nigeria’s dependence on imported petroleum products.

The meeting was attended by key government officials, including the National Security Adviser, Mallam Nuhu Ribadu; Minister of Labour, Nkeiruka Onyejeocha; Minister of Finance, Wale Edun; and other stakeholders. On the Labour side, leaders of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), including NLC President Joe Ajaero, participated in the talks.

Conclusion

While Labour leaders have expressed cautious optimism about the government’s promises, they stressed that the success of these agreements depends on the government’s ability to implement them. For now, both sides appear committed to resolving the economic issues affecting Nigerians through dialogue and cooperation.

The next steps will involve monitoring the full implementation of these measures and ensuring that the expected relief is delivered to Nigerians as swiftly as possible.