The strike action called by  Nigeria’s two powerful oil unions, PENGASSAN and NUPENG has been called off.

According to sources the strike was called off at 4.00 am today after a marathon meeting between the minister of state for petroleum, Ibe Kachikwu and leaders of the two unions.

The workers had staged a work walk-out on Wednesday following the announcement of the unbundling of the NNPC into seven autonomous units.

The workers kicked that the minister had not carried them along and that the unbundling triggered issues about pensions, possible job losses and due process.

Spokesmen said the unbundling also breached the law that set up the NNPC, 38 years ago.

But after the meeting, the Group Executive Councils of PENGASSAN and NUPENG resolved to support the restructuring and change process towards a New NNPC.

The unions were led by the National Presidents, Comrades Igwe Achese and Francis Johnson of NUPENG and PENGASSAN respectively. The meeting was held at the NNPC Towers,Abuja.

The unions reviewed their stance after a decision was reached to set up a committee with representatives from the unions and NNPC management to look into the new NNPC structure with a view to considering any suggested amendment where necessary.

The NNPC noted that consensus was reached on other outstanding issues bordering on pension matters, job security as well as staff performance and appraisal.

The Minister assured that the restructuring was aimed at enhancing capacity utilization of staff and not creating job losses.