Fuel crisis looms as workers shut down NNPC over unbundling

Hamilton Nwosa
Writer

Ad

Where Extreme Poverty Rates Are Highest in the World

Key Takeaways Africa is home to 23 of the top 30 countries with the highest rates of extreme poverty. Kosovo ranks in 19th globally in 2024, seeing the highest rates outside of Africa—a country that faces high unemployment rates and ongoing conflict. The Democratic Republic of Congo (DRC) produces roughly three-quarters of the world’s cobalt, it…

Oil Prices Drop as Israel and Hamas Agree to Ceasefire

Oil prices fell in early morning trade on Thursday in Asia as Israel and Hamas agreed to a pause in fighting and a hostages-for-prisoners exchange, under a framework advanced by the Trump administration. Under the agreement, Hamas will release as many as 20 living hostages this weekend, and Israel will pull back forces to a negotiated…

Central Banks Now Hold More Gold Than U.S. Treasuries

Key Takeaways For the first time since 1996, foreign central banks’ gold reserves have overtaken their U.S. Treasury holdings. Persistent gold buying and rising U.S. debt risks are reshaping reserve composition toward hard assets. Central banks have crossed a symbolic line: their combined gold reserves now exceed their U.S. Treasury holdings for the first time…

Ad

Another fuel crisis is looming across the country as workers of the Nigerian National Petroleum Corporation, NNPC, yesterday, shut down the activities of the corporation nationwide over the ‎unbundling exercise. NNPC The workers, under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the National Union of Petroleum and Natural Gas Workers (NUPENG), said they were not consulted before decisions of the unbundling exercise were taken‎, hence, it is unacceptable to them. Some of the workers who spoke on the condition of anonymity, chided the Federal Government, the Minister of State for Petroleum Resources, Mr. Ibe Kachikwu and the management of the NNPC for taking such decision which concerns and affect the future of the workers without due consultations.

In Abuja, the workers were seen standing around th‎e headquarters of the NNPC, holding discussions in small groups.

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp