There are reports that an agreement to begin lifting petroleum products has been reached between Major Oil Marketers Association of Nigeria (MOMAN) and the Federal Government.
The lifting of petrol products is expected to begin in the next 6 hours.
According to Magnus Abe, Chairman of the Senate committee on petroleum resources, it was revealed that the resolution was reached after MOMAN's meeting with the Minister of Finance, Ngozi Okonjo-Iweala, Joseph Dawha, Group Managing Director of the Nigeria National Petroleum Corporation (NNPC) and major stakeholders in the oil and gas sector.
Similarly, the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) have also suspended their industrial strike action.