The Nigerian National Petroleum Corporation (NNPC) has expressed deep regret over the significant losses suffered as a result of the strike action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).
According to NNPC, the industrial dispute has disrupted operations across the oil and gas sector, leading to mounting financial losses, supply challenges, and concerns about the broader impact on Nigeria’s already fragile economy.
The strike, driven by unresolved issues between PENGASSAN and relevant authorities, has resulted in stalled production activities, reduced export capacity, and heightened uncertainty in the petroleum supply chain. For a country that relies heavily on oil revenue, the ripple effect of such industrial actions cannot be underestimated.
NNPC has voiced its concern, noting that the strike not only affects corporate operations but also puts pressure on Nigeria’s energy security and foreign exchange earnings. The corporation emphasized that urgent dialogue and resolution are needed to prevent further setbacks.
With oil being Nigeria’s main revenue earner, any prolonged disruption could:
Weaken government revenue projections.
Increase scarcity fears within the domestic market.
Hamper Nigeria’s economic recovery efforts.
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