By Oscarline Onwuemenyi

ABUJA – The Federal Government,manufacturers in Lagos area and Gaslink have settled their dispute following their mutual agreement to abide by a price of N40/ cubic litre for the arrears of July-September.

At the meeting which was chaired by the Minister of Petroleum Resources, Odein Ajumogobia,in Abuja , the two parties agreed to the establishment of a Committee that would address challenges in the industry with a view to putting in place a mechanism that would find lasting solution to their disagreements.

The Minister disclosed that President Umar Musa Yar’adua had expressed his concern and had called for the intervention recognising that Government was well aware of the implication the dispute would have on industrial and labour harmony given that the manufacturing industries may lay off employees if they remain closed down for a long period of time.

Ajumogobia, in explaining the justification for Government action, stated that Governmnet was equally aware of the negative impact the dispute would have on the administration’s efforts at deregulating the downstream sector of the oil and gas sector,if allowed to persist.

He further said that Government was persuaded about the need for the intervention because the real sector was a key and strategic sector in the attainment of the lofty goals of the Government’s new economic blueprint; the Vision 20/2020. The Minister thus reasoned that no responsible Governmnet would allow its manufacturing sector suffer in this age of competitiveness in a globalised marketplace.

While commending the two parties for their cooperation, he revealed that in the circumstance only compromises can assist Government in pushing for a more permanent resolution of the issues involved. He praised their agreement of an interim price promising that Government would expeditiously establish a Committee that would study all the ramifications of the dispute in the interest of the growth of the industry.

The delegation of Manufacturers Association of Nigeria (MAN) was led by the Honourable Minister of State for Commerce and Industry, Barrister Humphrey Abah. Also present at the meeting were Permanent Secretary, Ministry of Petroleum Resources,Mrs Elizabeth Emuren; MD,Nigeria Gas Company, Saidu A. Mohammed; Mr. Bolaji Osunsanya, MD,Gaslink and representatives of NNPC, PPPRA, PPMC and other officials from the Ministry of Petroleum Resources.