The union had vowed to protest following the cash crunch in the country that has lasted over one month.

Following threats by the Nigeria Labour Party (NLC) to embark on a nationwide strike and picket Central Bank of Nigeria (CBN) branches, the Minister of Labour and Employment, Chris Ngige, says the dispute has been apprehended and the strike action won’t hold.

The union had vowed to protest following the cash crunch in the country that has lasted for months.

But speaking at the 68^thMinisterial Weekly Briefing in Abuja on Thursday, Senator Ngige recalled that a meeting between the two parties was summoned on Monday.

He said during the meeting, the union affirmed that there has been a reprieve on the cash crunch particularly after the CBN weighed in over the weekend.

The minister Is, therefore, confident that the central issue is no longer that of strike but implementation as a final decision is awaited at the end of their NLC executive council meeting today.

Ngige also disclosed that unemployment in Nigeria has more than quadrupled since 2015 following the country’s slip into recession in 2015 and 2020.

He underscored the need to make efforts to stem the negative impact on the economy and the active population of the country, particularly through private sector involvement.

This trend, according to him, informed a recent inauguration of a Technical Working Group (TWG) by the FG on Youth Employment and Skills Development to handle the trend. (Channels TV)

•Minister of Labour and Employment, Chris Ngige speaking at the 68^thMinisterial Weekly Briefing in Abuja on Thursday.