Concise News understands that the agreement was reached on Monday by the duo following a two-hour meeting in Abuja.
The federal government has also agreed to release N15.4 billion in salary shortfall for the University teachers.
It was gathered that the union will soon call off the strike as it is set to meet with its members.
Asuu had earlier vowed not to suspend its ongoing strike unless the federal government shows commitment in meeting its demands, having earlier accused the FG of making its previous meetings with Asuu fruitless.
Respite finally came the way of academic staff and students of Nigerian Universities when the FG announced on Monday to accede to Asuu’s demands.
This move has given birth to the suspicion that Asuu may call off the prolonged industrial action this week.
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