The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has identified policy variability as discouraging investment in Nigeria’s oil and gas industry.
Speaking on Wednesday at the opening of the 4th Petroleum and Energy Advancement and Leadership Summit in Abuja, PENGASSAN President, Festus Osifo, said frequent amendments to critical laws such as the Petroleum Industry Act were unsettling investors.
“Amendments are inevitable but must not be haphazard or intermittent. Businesses need stable policies for long-term planning, job protection, and sustainable production,” Osifo said.
While criticising erratic legislative changes, Osifo commended recent executive orders signed by President Bola Tinubu to boost oil production, accelerate gas development, and streamline contracting processes. He described them as “steps in the right direction.”
On workers’ safety, the PENGASSAN President reaffirmed that “no job is worth a life,” emphasising the importance of strong safety measures, ongoing training, and transparent reporting in both offshore and onshore operations.
He recalled the 2024 helicopter disaster in Bonny, which killed three union members, as a sobering reminder of the dangers.
Turning to environmental issues, Osifo demanded an end to gas flaring, remediation of polluted communities, and stricter accountability for oil operators. He added that Nigeria must safeguard its land, rivers, and air.
“Environmental, Social, and Governance standards are now critical for global competitiveness. Sustainability reporting must sit alongside financial statements,” he said.
He explained that the summit would address ways to sustain production recovery, curb pipeline vandalism, resolve contract delays, develop marginal fields, and bridge funding gaps.
Osifo also reaffirmed the union’s commitment to members’ welfare through leadership development, health programmes, wealth creation, and estate planning initiatives.
The Group Chief Executive Officer of NNPC Ltd, Bayo Ojulari, commended PENGASSAN’s leadership and referred to PEALS as a key platform that brings together labour, industry, and government to influence Nigeria’s energy future.
He reaffirmed the NNPC’s commitment to innovation, collaboration, and safety, emphasising the importance of relationships with unions and regulators in developing a globally competitive sector.
Also speaking, Minister of Labour and Employment, Muhammad Dingyadi, urged Nigeria to take the lead in the global transition to cleaner energy and ethical practices.
“Resilience in oil and gas is not only about infrastructure or investment, but about people, labour policy, and empowering the workforce,” Dingyadi said.
He restated the ministry’s commitment to tripartite dialogue, decent work, skills development, and fair wages, stressing that health and safety must remain “non-negotiable pillars” of a resilient energy system.
He further called on unions to pursue constructive engagement and on government agencies to streamline regulations that balanced labour welfare with investment growth.
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Source:orientalnewsng.com
