Business News of Friday, 8 May 2026

Source: www.dailypost.ng

It would ease economic pressure – NUPENG reacts to NNPCL’s partnership

The Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has reacted to the Nigerian National Petroleum Company Limited’s recent partnership with Chinese firms to restart the Port Harcourt and Warri refineries.

In a statement by NUPENG President, Otunba Salimon Oladiti, he said the refineries’ restart would reduce the economic pressures Nigerians face.

DAILY POST reports that a partnership was recently signed with Chinese firms to revive the country’s refineries.

Reacting, he said the move would effectively address “the long-standing challenges in Nigeria’s petroleum sector and reduce the country’s heavy dependence on imported petroleum products despite its position as a major oil-producing nation.

“The agreement with the Chinese firms presents an opportunity for the country to reposition its oil and gas sector, restore public confidence in the nation’s refining capacity, create employment opportunities, encourage industrial growth, strengthen energy security, and reduce the economic pressure associated with fuel importation.”

He, however, noted that “Nigerians are tired of repeated refinery rehabilitation promises and projects that have consumed huge public resources without delivering lasting results,” and therefore urged all parties involved in the partnership to ensure transparency, accountability, professionalism, and timely execution of the agreement.