How Dwindling Oil Price Causes Job Loss, By Okowa | Independent Newspapers Limited
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How Dwindling Oil Price Causes Job Loss, By Okowa

Posted: Nov 7, 2015 at 3:10 pm   /   by   /   comments (0)

By Felix Igbekoyi, Asaba

DELTA State Governor, Senator Dr Ifeanyi Okowa, has revealed that the dwindling price of oil in the international market led to loss of jobs in the country.

He spoke Friday in Asaba when the National President of National Union of Petroleum and Natural Gas Workers (NUPENG), Igwe Achese, led members of his executive to pay him a courtesy call.

He said that the low revenue from oil has become a major challenge that must be tackled through partnership between the state and federal government to diversify the economy.

According to him, the oil and gas sector was not the only one being affected by the nose-dive in the price of oil, disclosing that the construction sector had been affected and urgent steps must be taken to address the situation and its attendant effects.

“We are beginning to loss jobs in the oil companies; the construction companies are even affected most because they employ more workers, especially, the youths. When they are working, the youths in their areas of operation are employed,” he stated, adding, “Today, it is affecting the construction of roads and other infrastructure. We believe that with the coming of the dry season, we will engage the construction companies and they will in turn, engage the youths and our people.”

While calling for patience and understanding from Nigerians and urging them to be positively engaged, Governor Okowa emphasised that the economy could be diversified with Nigerians going back to agriculture, agro-based business, small and medium-scale enterprises.

His words: “I hope the Federal and State governments will partner to find ways to diversify the economy so that we will not depend solely on oil but tap the benefits of engaging in agriculture and SMEs,” decrying situation where the gains from oil in the past were not used to prepare the country for the current down-turn in oil prices.

Besides, Achese had said that they were in the state to inform the Governor that the down-turn in the oil prices has taken its toll on oil workers where 900 persons had been laid off in Chevron’s operations in Delta State and same was applicable in other multi-national oil companies.

While calling for urgent steps to check the situation, he disclosed the union’s efforts towards ensuring that tankers were parked properly without constituting nuisance to other road users.