Nigeria oil revenue has experienced a decline of ₦148.8 billion.
This occured as a result of the nationwide strike embarked upon by the Organized Labour on Monday.
According to Nigerian Upstream Petroleum Regulatory Commission, Nigeria produces 1,281,478 barrel of crude oil daily which is traded at $78.27 per barrel.
The Petroleum and Natural Gas Senior Staff Association of Nigeria and their counterpart in the Nigeria Union of Petroleum and Natural Gas Workers joined the strike and couldn’t produce for the day.
“Of course, there was significant compliance by members across many stations today and this is to send a message to the government,” an official of the union, who spoke on condition of anonymity due to lack of authorisation to speak on the matter, stated.
“The strike is as a result of the breakdown of discussion on the national minimum wage between the government and organised labour as the government is not desirous of offering an acceptable minimum wage that could address the current economic challenges plaguing the country’s workforce”.
“Total compliance is expected as anything to the contrary will be viewed as sabotage of the struggle which will attract the necessary sanctions.”
Get instant and latest news updates via Our WhatsApp Community or Google News online channel.
