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Oil firms contemplate retrenchments as sector declines

05 February 2016, 20:37

Abuja - Labour and Employment Minister, Chris Ngige, has appealed to oil companies reportedly planning to lay off workers to shelve such plans as they could throw the nation into upheaval.

It has been reported some companies were planning to retrench the workers owing to the dwindling price of crude oil in the international market.

The Minister, who made the appeal during a meeting with major oil companies in Nigeria, emphasised the nation was already facing some social security problems and could not afford more job cuts.

“The oil majors in Nigeria must therefore bend backwards and see what they can plough back from their profits to keep Nigerian workers on their duty posts,” Ngige said.

Also read: Oil tycoon arrested as corruption probe widens

Ngige assured the oil companies the present economic downturn would not last forever.

“Keep the existing jobs as nothing lasts forever. We have a down turn today but you can be sure it will not last forever.”

A director at Chevron Nigeria Limited, Ihuoma Onyearughe, said the situation in the oil company was dire.

“We want to ask for more understanding in appreciation of the challenges we face. Nevertheless, we have heard the. Minister and we will take his message back to our various companies,” she said. 





- CAJ News


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