Rising from a two – day meeting with the organised labour, the federal government, Tuesday, announced a reduction in the pump price of Premium Motor Spirit (PMS), otherwise known as petrol from about N168 currently to N163.
Minister of Labour and Employment, Dr. Chris Ngige, announced this on Tuesday, saying, a technical committee has been set up to appraise the market forces and other factors that would ensure stability in the industry and report back to the house on January 25.
Ayuba Wabba, the President of the Nigeria Labour Congress, confirmed that the decision on the new petrol pump price, was reached by parties at the meeting.
The parties are yet to reach an agreement on the request for a reversal of the electricity tariff.