better than the other two. For instance, all the five(5) major companies operating in the upstream sector of the oil industry(accounting for about 95% of total activities) are foreign owned(Royal Dutch Shell(Shell Petroleum Development Company), Chevron, Exxon-Mobil, Agip and Total). In the telecommunication sector, only one of the four(4) major players, GLO, is indigenous, while the remaining three(3), MTN, ZAIN and ETISALAT are foreign. In the banking sector, the only bank with a high level of foreign equity participation is one of the eight(8) banks that remain un-unionised(IBTC STANBIC). A total of sixteen(16) banks are unionised(see Box 1 above). Another area in which the effect of globalisation is felt in the industry is in respect of employment generation and security. With the establishment of the Nigeria National Oil Corporation in 1971 which later became the Nigerian National Petroleum Corporation, the Nigerian state increased its stake in the industry employing a sizeable number of Nigerians. The insistence of the regulators of the global economy on less involvement of government in business has led to a situation in which the government has initiated the privatisation of its refineries with its implication for job loss(this is part of the liberalization and deregulation of the downstream sector). Already the NNPC has discharged quite a number of its personnel in the last few years as part of its re­organisation. What this simply means is that employment generation is highly circumscribed under globalisation. In the circumstance, therefore, job security becomes a critical issue in managing the employment relationship. Related to the above is the increasing adoption in the industry of non-standard forms of employment, including casual and contract labour. Apart from resorting to these as cost saving measures, employers also use them to undermine the union. In the industry today, the bulk of employees are casuals. Available figures indicate that while Nigerian Agip Oil Company(NAOC) has 1452 permanent employees, junior and senior, 3221 are contract/casual employees. For Chevron, the figures are 562; permanent and 2,820, casual while in the case of Shell Petroleum Development Corporation there are there are 3625 permanent employees as against 17,000 contract/casual employees. Table 30 below is a graphic illustration of the situation. 67