NUPENG, PENGASSAN Reject FG’s Planned Sale of Oil, Gas Assets
NUPENG, PENGASSAN Reject FG’s Planned Sale of Oil, Gas Assets
The two major oil workers’ unions in Nigeria the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) have jointly kicked against alleged plans by the Federal Government to dispose of significant stakes in Nigeria’s Joint Venture (JV) oil and gas assets.
In a strongly worded statement issued on Tuesday, the unions expressed concern that the move, reportedly aimed at raising funds for the government, could jeopardize national interest, erode Nigeria’s economic sovereignty, and threaten the job security of thousands of oil and gas workers.
According to the unions, the JV assets, which are operated by international oil companies in partnership with the Nigerian National Petroleum Company Limited (NNPC Ltd), remain a critical component of the country’s energy and economic backbone.
They warned that selling off Nigeria’s stakes would amount to “mortgaging the nation’s future” to private and foreign interests.
“We will resist any attempt to hand over the collective wealth of Nigerians to a few privileged individuals and their foreign collaborators under the guise of asset sales,” the statement read.
“Such a move will not only undermine Nigeria’s energy security but also compromise the government’s revenue base at a time when the nation is in dire need of sustainable economic strategies.”
PENGASSAN and NUPENG further accused the government of failing to consult key stakeholders in the oil and gas sector before embarking on such a critical policy decision. They stressed that dialogue and transparency were necessary in managing national resources, particularly assets that have sustained the country for decades.
The unions threatened to mobilize their members nationwide should the Federal Government proceed with the plan. They also called on the National Assembly, civil society organizations, and Nigerians at large to reject what they described as “an attempt to auction the country’s future for short-term fiscal gains.”
The Federal Government has not yet issued an official response to the unions’ statement.
