PENGASSAN strike halts Seplat operations from April 3; union suspends action April 4 after NNPCL intervention

On April 3, 2026 PENGASSAN began an indefinite strike affecting Seplat Energy operations (suspending production reporting and export activities). The union then suspended the action on April 4, 2026 after interventions and written commitments from Seplat management and NNPCL, with negotiations to conclude by April 13, 2026.

A stoppage at Seplat — Nigeria’s largest independent oil producer — can temporarily reduce Nigeria’s export throughput and near-term FX oil receipts if sustained, raising operational-risk premia on the issuer and related energy corporates. The immediate suspension of the strike reduces that risk, but the outcome hinges on finalising the 2026 collective bargaining agreement by the parties' April 13 target.

Whether Seplat and PENGASSAN finalise and sign the 2026 CBA by April 13, 2026.