PENGASSAN Calls for Urgent Reforms in Refineries
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has urged the Federal Government to implement urgent reforms in the nation’s refineries and warned against political interference in the oil and gas sector. Speaking at the ongoing 4th PENGASSAN and Labour Summit 2025 in Abuja, themed “Building a Resilient Oil and Gas Sector in Nigeria: Advancing HSE, ESG, Investment and Incremental Production,” PENGASSAN President Festus Osifo called for the adoption of a model similar to the Nigeria Liquefied Natural Gas (NLNG), where the government holds minority stakes while private investors manage operations. “Government must divest majority control of the refineries, just as in the NLNG model, where private partners hold 51 per cent while government retains 49 per cent,” Osifo said, stressing that political meddling and inadequate tools have crippled efficiency. He cautioned that Nigeria’s 37 billion barrels […]