Marketers Fear Fuel Price Hike as PENGASSAN Strike Begins
Nigerians may be facing another round of hardship as the nationwide strike declared today (Monday) by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) threatens to trigger fuel price hikes and widespread power outages.
The strike, which follows the sack of over 800 Nigerian workers at the Dangote Petroleum Refinery, has already forced the shutdown of the refinery and fertiliser plant. PENGASSAN directed its members across the country to halt crude oil and gas supplies, sparking fears of a supply squeeze in the domestic market.
Independent Petroleum Marketers Association of Nigeria (IPMAN) warned that the action could destabilise the market, erode investment confidence, and push up petrol prices. “Disruption of crude and gas supply will trigger fuel price hikes and worsen power shortages,” IPMAN’s National Publicity Officer, Chinedu Ukadike, said.
The crisis has deepened as power generation companies confirmed receiving instructions to shut down thermal plants, which provide more than 70% of Nigeria’s electricity supply. “Please all be notified of imminent darkness, as hydros alone cannot sustain the system,” said Joy Ogaji, Executive Secretary of the Association of Power Generation Companies.
While stakeholders have called for calm, PENGASSAN insists there will be no retreat until the sacked workers are reinstated. The Trade Union Congress (TUC) has also declared support for the strike, warning of possible escalation.
Dangote Refinery, however, described the strike as “reckless and dangerous,” insisting that the dismissals were due to safety and efficiency concerns, not union membership.
With fuel supplies already disrupted and thermal plants shutting down, fears of petrol price hikes and prolonged blackouts are mounting. All attention now shifts to Monday’s emergency meeting convened by the Minister of Labour and Employment in Abuja.