Nigeria’s energy unions cry wolf as markets dismiss threat
The energy market has grown increasingly dismissive of Nigeria’s oil and gas unions and their seemingly empty threats to shut in the county’s energy exports
At the end of last week, the white-collar Petroleum and Natural Gas Senior Staff Association of Nigeria (Pengassan) and the blue-collar Nigeria Union of Petroleum and Natural Gas Workers (Nupeng) threatened to join a general strike called in response to the federal government’s decision to scrap fuel subsidies. Pengassan claimed that, had it carried out its threat, it would have cut 2.3 million barrels a day (b/d) of crude exports. With Bonny Light crude trading at $115 a barrel, the shut in would have seen Nigeria’s federal government lose about $264.5 million a day of oil revenue. A country-wide production shut-in would also have cut gas output and liquefied natural gas (LNG) exports. Nige
Also in this section
16 April 2026
Demand for oil is falling because supply cannot meet it, not because it is no longer required
16 April 2026
The continent has an immediate opportunity to make the most of its energy resources by capturing gas that is currently slipping away
15 April 2026
The continent is seeing political pushback to climate plans, corporate reassessment of transition goals and rising supply risk in a fractured global order
15 April 2026
The Middle East energy crisis may turn out to be pivotal to the industry’s long-term expansion, but significant challenges still stand in its way
