As a result of the continued fall in oil prices, Nigeria’s oil and gas companies have cut about 120,000 direct and indirect jobs, the immediate past National Industrial Relations Officer, Petroleum and Natural Gas Senior Staff Association of Nigeria, Hyginus Onuegbu, has said.
Onuegbu, who is the Rivers State Chairman, Trade Union Congress of Nigeria, said the dwindling oil prices had affected the expected revenue of oil companies in the country as revealed by their third quarter reports, with some of them declaring losses.
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