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The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), person opposed Federal Government’s program to merchantability its stakes successful Joint Venture (JV) lipid assets.
The 2 lipid unions besides condemned successful strong, the projected amendments to the Petroleum Industry Act (PIA).
PENGASSAN President, Mr Festus Osifo, astatine a satellite associated quality league connected Tuesday successful Abuja, said that some policies would destabilise the Nigerian National Petroleum Company Ltd. (NNPC Ltd.) and enactment the system astatine risk.
According to Osifo, the planned merchantability of authorities stakes successful JV assets would owe Nigeria’s aboriginal and cripple its lipid industry.
“The lipid assets beryllium to the federation, not conscionable the Federal Government, but to each Nigerians and immoderate determination to merchantability them amounts to mortgaging Nigeria’s future.
“Government presently holds betwixt 55 and 60 per cent stakes successful JV assets managed successful NNPC Ltd. connected behalf of the federation.
“Selling these assets for speedy currency volition undermine our overseas speech earnings, weaken the Naira and plunge the federation into fund deficits,” helium said.
Osifo said that specified income would enactment the payment of lipid workers astatine risk, stressing that NUPENG and PENGASSAN represent the largest workforce successful NNPC Ltd.
He added that, if unchecked, it volition weaken NNPC, bankrupt the state and endanger generations yet unborn and we accidental no, no, nary to this plan.
On the PIA, Osifo faulted the determination to region the Ministry of Petroleum from NNPC Ltd.’s ownership operation and handover power solely to the Ministry of Finance.
“This is an aberration. Everywhere successful the world, nationalist lipid companies run nether petroleum ministries. We volition defy immoderate effort to change this structure,” helium said.
He urged the national authorities to alternatively absorption connected boosting crude lipid production, which could beryllium accrued from 1.7 cardinal barrels per time to much than 3 cardinal barrels with the close concern climate.
He added that, each authorities should beryllium focused connected contiguous is however to pull investors and amended production, not speedy wins that endanger tomorrow.
He, therefore, urged President Bola Tinubu to intervene and telephone applicable ministries and agencies to order, stressing that Nigeria could not spend to gamble with its main root of revenue.
“The authorities indispensable permission our assets unsocial and absorption connected boosting crude production, not speedy currency that endangers Nigeria’s future,” Osifo said.
On his part, NUPENG President, Mr Williams Akporeha, called connected authorities to rethink its attack to economical reforms and halt considering plus sales.
“They told america subsidy was draining funds. We supported its removal successful the anticipation of amended infrastructure and security. Now, with much revenue, wherefore merchantability our remaining assets?” helium said.
He said the subsidy removal had already accrued revenues flowing into the federation relationship but lamented that small had been done to code infrastructure and information challenges.
“Now the small assets that the state inactive has, they besides privation to merchantability them. This is not successful the involvement of Nigerians, nor the lipid and state industry,” helium said.
On the projected amendment to the PIA, Akporeha described it arsenic premature and damaging to capitalist assurance successful Nigeria’s lipid sector.
“It is excessively aboriginal to amend the PIA. Investors request stability, not abrupt changes. Government indispensable let the instrumentality to enactment earlier making adjustments,” helium said.
According to him, the amendments being considered are targeted astatine weakening NNPC Ltd., Nigeria’s lone nationalist lipid company.
“Every oil-producing state contiguous has a nationalist lipid institution that plays a immense relation successful protecting nationalist interests. Why should Nigeria portion its ain NNPC of that role?” helium asked.
The station NUPENG, PENGASSAN cull FG’s planned merchantability of JV lipid assets appeared archetypal connected Vanguard News....
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