The Nigerian National Petroleum Corporation NNPC has appealed to the leadership of the corporation’s arm of the national union of petroleum and natural gas workers (NUPENG) and the petroleum and natural gas senior staff association of Nigeria (PENGASSAN) to exercise restraint while looking for measures to resolve the pension issues.
Earlier, commotion broke out at the corporation, where the leadership of the unions ordered their members to down tools and go home.
The group public affairs manager, Ohi Alegbe, said the national pension commission (PENCOM) had given a 12-month window for the corporation to comply with the pension reform act 2014 as amended.
Meanwhile, PENGASSAN has said that it will continue with its strike action until NNPC shows commitment to address the contentious issues.
However, the indefinite strike has led to the stoppage of gas supply to Ghana through the West African gas pipeline.
The general manager, corporate affairs, West African gas pipeline company, Harriet Wereko-Brobby, said there is no gas flowing into the West African gas pipeline due to the strike.
Nigeria is contractually bound to supply 120 million cubic feet per day of gas to Ghana through the transnational gas pipeline.
Following the shake ups in global oil market and OPEC’S recent announcement, continued drop in oil prices to slightly below $99 a barrel is already weighing pressure on the naira.
And as the central bank’s monetary policy committee meets to set Nigeria’s key interest rate analysts hope it will be left unchanged at a record 12 percent to promote stability as campaign-related spending before 2015 elections may increase price pressures.