The Federal Government has announced the elimination of the Value-Added Tax (VAT) on fuel for the next six months as part of steps to manage growing production costs.
This was part of the agreement struck during a meeting between government officials and the leadership of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).
In a statement issued on Sunday, Mohammed Idris, Minister of Information and National Orientation, stated that all parties involved in the discussion held at the State House on Sunday agreed on the move.
The minister stated that the government is “committed to fast-tracking the provision of Compressed Natural Gas (CNG) buses to ease public transportation difficulties associated with the removal of the PMS subsidy.”
Apart from this, the government said it is committed to the provision of funds for micro and small-scale enterprises.
“NLC and TUC will consider the offers by the Federal Government with a view to suspending the planned strike to allow for further consultations on the implementation of the resolutions above,” the statement added.
Kwara State Governor Abdulrazak Abdulrahman, Chairman of the Nigeria Governors Forum (NGF), and Ogun State Governor Dapo Abiodun participated virtually in the meeting, which was presided over by the President’s Chief of Staff, Femi Gbajabiamila.
Wale Edun, Minister of Finance and Coordinating Minister of the Economy; Mohammed Idris, Minister of Information and National Orientation; Simon Lalong, Minister of Labour and Employment; Nkeiruka Onyejeocha, Minister of State, Labour; Abubakar Atiku Bagudu, Minister of Budget and Economic Planning; Betta Edu, Minister of Humanitarian Affairs and Poverty Alleviation; Doris Uzo, Minister of Industry, Trade and Investment.
The labour delegation was led by NLC President Joe Ajaero, TUC Deputy President Dr. Tommy Etim Okon, NLC General Secretary Emma Ugboaja, and TUC General Secretary Nuhu Toro, among others.