Lack of confidence in the global oil sector, as well as diminishing crude oil production in Nigeria has forced industrial unions to seek discussion in order to avoid economic catastrophe. Workers in the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the National Union of Petroleum and Natural Gas (NUPENG) are seeking alternative resolutions to allow the country sustain current oil production and related activities, thanks to a move led by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
A meeting held in Abuja on the 22nd November 2021 Nigerian Upstream Petroleum Regulatory Commission (NUPRC) vowed to work with the two oil and gas unions to promote industrial peace and smooth operations in the industry.
During a meeting with the presidents of the unions, Festus Osifo (PENGASSAN) and Williams Akporeha (NUPENG), the Commission’s Chief Executive, Gbenga Komolafe, stated that the government will do everything in its power to ensure peace in the nation’s interest.
In accordance with the Petroleum Industry Act (PIA) 2021, he stated that the government will continue to promote equity in the Commission’s operations.
Even as they reinstate their confidence in communication as a means of resolving industrial problems, the union officials informed Komolafe that they were ready to work with the commission.
It’s no secret that the oil and gas industry is in the midst of a global crisis, and Nigeria is no exception. Price volatility is at an all-time high, and supply chain management is at best precarious. A backlash on the pricing of Petroleum Products AGO PMS DPK MGO is still pointing to an unavoidable price hike, owing to the government’s inability to continue funding a constantly expanding subsidy system.
Source: Guardian Nigeria, Press reader, News now.
