Nationwide oil workers’ strike costs Nigeria over 200,000 barrels of crude daily

Nigeria’s economy has taken a major hit following the recent nationwide strike by oil workers, which resulted in the daily loss of more than 200,000 barrels of crude oil and caused significant disruptions to gas production and electricity generation across the country.

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Bayo Ojulari, revealed this on Monday after a closed-door meeting with President Bola Ahmed Tinubu at the Presidential Villa, Abuja.

“In this particular case, we actually lost significant production of over 200,000 bpd that was deferred; we also have gas production that was deferred; we also have power generation that was impacted,” Mr Ojulari told journalists at the state house.

At an average price of $66 per barrel, it means Nigeria lost about $39.6 million (N57.4 billion) worth of crude oil for the three days the strike lasted.

Recall that the strike called by PENGASSAN, a union of senior oil workers in the oil industry, to protest the sack of its members by Dangote refinery. It was suspended last Wednesday following the federal government’s intervention.