Current Realities in the Upstream Sector of the Nigerian Oil & Gas Industry

Number of workers Current Realities in Nigeria; Employment/Labour Implications Down sizing and job losses in the Upstream Oil & Gas industry both locally and globally ● About 120,000 direct and indirect job losses in Nigeria (Economist) Layoff prominent in all sectors of Upstream activities (Oil Majors and servicing) 8,500 25,000 Global Upstream sector Layoffs by Oil Majors Global Job cuts by major E&P Service companies 20,000 8,000 7,500 7,000 NIGERIAN OCIATION OF PETROLEUMONIST Number of workers 15,000 10,000 5,000 0 Shell BP Chevron schlumberger Halliburton Baker Hughes Weatherford Source: Economist, Fox business, money morning staff research DHL Degeconek

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