The Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, says uncertainty in the global oil market could lead to job losses in Nigeria’s petroleum sector.
The union’s General Secretary, Afolabi Olawale, said the ongoing Middle East tensions linked to the United States and Israel conflict with Iran are creating volatility that is straining relationships among oil marketers, depot owners and importers.
Olawale said unpredictable fuel prices and rising shipping insurance costs could affect employment and distort prices across the sector.
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He also urged Nigeria to strengthen domestic refining capacity, warning that reliance on imported fuel leaves the country vulnerable to global supply disruptions.
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