The Organised Labour has called off its planned strike after reaching an agreement with the Federal Government.

The Minister of State for Labour and Employment, Festus Keyamo, announced this on Facebook at 3am.

Keyamo said the electricity tariff had been reversed albeit temporarily while the deregulation of the oil sector was retained.

He wrote, “Federal Government and labour reach agreement at 2:53am. Deregulation to stay as government rolls out palliatives for labour (details in two weeks).

“Electricity tariffs suspended by government for two weeks with a joint committee headed by Keyamo to examine the justification for the new policy. Strike suspended.”

The National President of the Trade Union Congress, Quadri Olaleye, confirmed the development on Monday morning.

Olaleye said, “Definitely correct. We just left a press conference. We signed a document to suspend the action for two weeks for the government to implement those things that we agreed in the agreement. So, we are suspending for two weeks.

“We don’t need a notice again to re-convene if there is a need to do that.”