Workers at Seplat Energy commenced an indefinite strike on Friday under the leadership of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN). The action follows failed talks over the 2026 collective bargaining agreement and unresolved welfare issues. In two letters sent to CEO Roger Brown, the union outlined its grievances and confirmed the strike would last "until further notice." While full operations are halted, essential safety and power systems remain active. The industrial action affects Seplat's onshore and offshore assets, joint ventures, and all offices across Nigeria. Junior staff, represented by a separate union, are not participating.
Despite a 150.4 per cent revenue jump to N4 trillion in 2025 and average daily production reaching 131,506 barrels of oil equivalent, profit growth was limited by rising costs and tax burdens. Seplat's onshore output rose 14 per cent, aided by upgrades at the Sapele Gas Plant, which now processes 90 million standard cubic feet of gas per day. The company plans to increase production to 155,000 boepd, with its first jack-up rig expected in the third quarter. Seplat, listed in Lagos and London, declared a 5-cent quarterly dividend and a 3.3-cent special dividend. Roger Brown said the firm remains on course to deliver $1 billion in cumulative shareholder returns by 2030. The strike occurs amid Middle East tensions that have tightened global oil markets.
Seplat's top executives are collecting record dividends while its senior staff feel sufficiently aggrieved to halt operations at a critical moment for Nigeria's energy supply. The strike exposes a disconnect between corporate profitability and worker welfare, even as the company reports historic output and expansion. Given that Seplat supplies significant volumes of gas to power plants, any prolonged stoppage will likely worsen electricity shortages for Nigerian households and businesses. The union's action may not shift management's stance unless pressure mounts beyond internal negotiations.
