The Academic Staff Union of Universities has agreed to call off its eight-month strike which has grounded academic activities in the public universities since March.
The union leadership reached an agreement during a meeting with the government team led by the Minister of Labour and Employment, Dr Chris Ngige, in Abuja, on Friday.
The government also pledged to pay N40bn as the Earned Allowance and N30bn for the revitalisation of the university system bringing the total payment to N70bn.
The FG further agreed to settle the arrears of salaries of the lecturers before December 31.
This is happening one week after the Federal Government accepted the demand by the ASUU that they be exempted from the Integrated Payroll and Personnel Information System pending the approval of their proposed payment system,
ASUU is expected to report the agreement to its organs and then communicate their decision to the government after which a date for the calling off of the strike would be announced.