The Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has warned the Federal Government against selective implementation of the Petroleum Industry Act 2021.

The President of PENGASSAN, Comrade Festus Osifo who gave the warning at the 7th triennial national delegates conference in Abuja, said the government must set up the host communities development funds immediately.

Osifo observed that the full implementation of the provisions of the PIA will further deepen the development of the midstream sector of the Nigerian oil and gas industry.

He, therefore, urged the incoming government to aggressively implement the Act for the benefit of the country.

Comrade Osifo who expressed satisfaction at the ongoing rehabilitation of Nigeria’s three refineries, commended the Group CEO of NNPC Limited, Mr. Mele Kayri for the bold steps toward a workable approach to bringing back on-stream the ailing refineries.

He said: “We will also continue to advocate for the adoption of the NLNG model in the running of the nation’s four Refineries when fully revamped and the creation of an enabling environment for the establishment and operation of modular and private refineries.

“We are happy that the current NNPC management is favourably disposed to such. With the Dangote refinery, there will be a significant impact on the fuel supply dynamics, including easing pressure on the economy, especially when combined with the ongoing revamping of the three refineries in the country”.

The PENGASSAN president expressed dissatisfaction over Nigeria’s rising debt level.

 “This is quite alarming mostly when you compare the cost of servicing this debt to the revenue generated by the government per annum”, he added.

He stated that while the oil workers were not against the government taking loans, he stressed that borrowed funds should not be used for consumption but rather channeled into productive ventures and infrastructure development.

Vanguard/ Oluwayemisi Owonikoko

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