The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) have strongly cautioned the Federal Government against its proposed plan to reduce its stakes in joint venture (JV) operations within the oil and gas sector.
Speaking at a joint press conference in Abuja, Presidents of the two unions, Comrades Festus Osifo (PENGASSAN) and Williams Akporeha (NUPENG), rejected the move, warning that such a decision would have dire consequences on Nigeria’s economy.
The union leaders urged President Bola Ahmed Tinubu to focus instead on policies that would revamp the oil and gas industry particularly those aimed at increasing production capacity and attracting new investments.
The unions also faulted the proposed amendment of the Petroleum Industry Act (PIA), which seeks to transfer ownership of the Nigerian National Petroleum Company Limited to the Ministry of Finance, describing it as regressive and counterproductive.
Both unions vowed to resist any unpopular government policies in the oil and gas sector, reaffirming their commitment to safeguarding the interests of Nigerian workers and the broader public.
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