PENGASSAN Calls For Oil Industry Reform

• PENGASSAN Calls For Oil Industry Reform

The Petroleum and Natural Gas Senior Staff Association of Nigeria has highlighted the need to reform the nation’s oil and gas industry in a bid to ensure economic development.

PENGASSAN, in its Independence Day message to Nigerians, said the government must resolve to address the gaps in the legal framework guiding operations and activities in the oil and gas industry through the passage of the Petroleum Industry Bill.

Noting that the PIB had suffered several setbacks, the President, PENGASSAN, Mr Francis Johnson, said, “The bill, when passed, will attract and retain more investments. We believe that the benefits derived from a reformed oil and gas sector will assist in the development of other sectors of the economy to prepare the country for the future of a nation without oil.”

According to the association, the Independence Day anniversary affords Nigerians the opportunity to review the progress made so far as a nation in its socio-economic and political journey, and to appreciate the sacrifice of thousands of forefathers who laid down their lives to make the country breathe the air of freedom and to keep Nigeria as one united and indivisible nation.

It said while the country had managed to stay together as a nation with abundant human and natural resources that could make it great, a lot of work would be required for the country to take its rightful place in the global stage.

The statement read in part, “Nigeria has had 19 years of uninterrupted democratic rule. It is also right to say that Nigerians have made a lot of progress in the field of agriculture, commerce, banking, and manufacturing.

“However, there are many challenges that must be surmounted for us to be a great nation indeed. Issues of insecurity, infrastructural decay, nepotism, unemployment, impunity, illegal migration, capital flight, abuse of power and recklessness of the political class continue to dominate national discourse.”