The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has raised the alarm over the worsening insecurity in Nigeria’s oil-producing areas, attributing the challenge to reasons multinational oil companies are leaving the country.
PENGASSAN President, Comrade Festus Osifo gave the indication at a news conference in Abuja.
Festus Osifo who commended the recently signed Upstream Petroleum Operations Cost Efficiency Incentives Order (2025) by President Bola Tinubu, however said it fails to address the root causes of the high cost of production, including security.
PENGASSAN also raised concerns over fuel pricing transparency in the country, especially with the significant reductions in global crude oil prices from $80 to around $60 per barrel.
Osifo further reacted to events that shaped this year’s democracy day celebration, faulting the omission of notable PENGASSAN veterans that were instrumental in resisting military rule from the National honours list.
While applauding the 26 years of unbroken democracy in Nigeria, the Union reminded the federal government that the true spirit of June 12 lies in delivering good governance and improving citizens’ welfare.
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