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Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has expressed deep concern over about 42 percent drop in the Nigeria’s oil revenue, warning that, the drop is astronomical and portends danger for the numerous socio-economic challenges presently bedeviling the country. NUPENG in a statement by its President, Igwe Achese, called for a change of tactics into addressing the challenges of oil theft, pipeline vandalism among others to avoid a collapse of the nation’s economy.
According to the statement “NUPENG warns that the drop is astronomical and portends danger for the numerous socio-economic challenges presently bedeviling the country. We state with dismay that it is a sad commentary that the federal government gross revenue dropped by 42 percent month-on-month to N497.978 billion, because of disruption to oil production caused by thieves bursting pipelines. It is NUPENG’s opinion that if nothing drastic is done, it will further plummet and affect resources meant for development and upgrading of infrastructure.”
– See more at: http://www.vanguardngr.com/2013/11/nupeng-decries-42-drop-oil-revenue/#sthash.JW9FAfwR.dpuf
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