July 7, 2016 - 12:30 AM EDT
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Fuel Scarcity Looms, As Oil Workers Go On Strike

Nigeria's senior oil workers union will go ahead with a planned strike on Thursday over some unresolved industry issues with the federal government.

The Petroleum and Natural Gas Senior Staff Association of Nigeria, (PENGASSAN), has directed its members to begin a gradual shut down of the industry in protest of job losses, delay in the passage of the Petroleum Industry Bill (PIB) and inability of the NNPC to meet piling debts to international oil companies.

PENGASSAN National Public Relations Officer, Comrade Emmanuel Ojugbana, told our reporter by phone that the action, which will cripple all activities and operations in the oil and gas sector, will affect all the sub sectors.

"It will affect every activity in the oil and gas industry" Ojugbana said.

"It is a gradual shutdown unless government intervenes" he added.

"Our major grievance is the issue of JV funding and cash call payment. Government is not in any way keeping its obligations on this funding issue such that the IOCs have stopped several of their projects. No investments, jobs are not created as a result and this is also crippling down to our service companies, many of them are reducing their staff."

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Source: Equities.com News (July 7, 2016 - 12:30 AM EDT)

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