The Federal Government has agreed to release N30 billion as part payment of the Earned Academic Allowances (EAA) to the Academic Staff Union of Universities (ASUU).
Chris Ngige, Minister of Labour and Employment, disclosed this at the end of a meeting between the Federal Government and ASUU in Abuja.
It was also learnt that the FG promised to spend N20bn on the revitalisation of the education sector.
Meanwhile the meeting was inconclusive and was adjourned in spite of agreements reached.
The conciliatory meeting is to reconvene by October 21 by 3.00 p.m after the Federal Executive Council (FEC) meeting. It is expected that ASUU will report back on its decision, in order to facilitate calling off their strike.
The strike action which was declared by the University Union has lasted for seven months now.