As the nationwide strike action embarked upon by a faction of the Nigeria Labour Congress (NLC) over fuel price hike entered its fourth day on Monday, the situation is inflicting a severe blow on the economy of Kwara State.

If the industrial face-off lasts a week, the state would be forfeiting a sum of N200million accrued to its coffers from revenue generating ministries, departments, agencies and other institutions owned by the state, The Herald authoritatively reports.

Exclusive findings in Ilorin yesterday revealed that the decision of the state chapter of the NLC to align with Ayuba Wabba led organised labour had taken a deadly blow on the state economy.

An insider in the state Internal Revenue Service said the revenue loss also involved some medical facilities that were generating fund for the state.

Some labour bodies such as Trade Union Congress, Petroleum and Natural Gas Senior Staff Association of Nigeria and other allies had withdrawn from the strike action and continued negotiation with the government in resolving the impasse generated by the increase in petrol price.

The Federal Government few days ago announced a new price regime for fuel from N86 and N86.50k to N145 per litre resulting in the lingering industrial disquiet. Wabba led NLC vowed that it would not return to the negotiation table until the current price of premium motor spirit was reverted.

It was learnt in Ilorin yesterday that the strike action had reduced daily revenue profile of Kwara. The Herald reliably gathered that if the trade dispute should subsist, it would have a colossal damage on the revenue the state government was struggling to shore up.

However, despite strike, banks and private institutions in the state have ignored the action while banking halls were filled to the brim with depositors and others who came for different transactions. Our correspondent observed that some banks like UBA, FCMB, Union and Skye, all within Ilorin, state capital witnessed influx of customers moving in and out of the financial institutions.

"As it is now, the state (Kwara) economy is badly affected by the strike action of the NLC led by Ayuba Wabba. We didn’t know it would take this long before the grey areas are resolved. But be that as it may, if the strike should last one week, Kwara may be losing N200million.

"This is because the ministries, departments and agencies known to be revenue generating institutions joined them. Some hospitals also joined them. And as you know, Kwara State Internal Revenue Service is there to collect revenues generated daily by these government institutions. We are seriously affected. And in the interest of the economy, the strike action should be suspended while the labour returned to the negotiation table".