PENGASSAN strike fuel price hike Nigeria
As the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) commences its nationwide strike, oil marketers have expressed fears of an imminent fuel price hike and supply disruptions.
The strike, which has already forced the shutdown of the Nigerian National Petroleum Company Limited (NNPC), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), is expected to tighten supply in the coming days.
According to the Independent Petroleum Marketers Association of Nigeria (IPMAN), the strike could worsen the fuel scarcity in parts of the country, especially in urban centers, if urgent steps are not taken to resolve the dispute.
“Any prolonged shutdown in the sector will force us to buy products at higher prices, and this will translate into increased pump prices for Nigerians,” an IPMAN official warned.
With Nigerians already grappling with high living costs, analysts caution that the strike could further strain household budgets, trigger inflationary pressures, and disrupt economic activities.
The Federal Government is yet to announce a concrete resolution plan, but stakeholders are calling for urgent negotiations to avert a prolonged energy crisis.
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