Danger Looms As Nigeria’s Economy May Collapse Over Labour Crisis

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CBN

 

 

Economic Crisis Looms in Nigeria – PLAC Legist

…fallout of NUPENG threat

 

Olusola Bello

 

 

The Nation’s fragile economy would be dealt a devastating blow should the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) carry out its threat to withdraw services from the oil sector.

 

Carrying out the threat would mean the economy would head downward drastically, filling stations would be shut down, and operations in Upstream of the petroleum industry, especially at the crude oil loading terminals would be halted. The oil sector provides for 95% of Nigeria’s foreign exchange earnings and 80% of its budgetary revenues.

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