The President of the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, Festus Osifo, has explained why the oil unions rejected the government’s plan to sell assets. According to Osifo, the proposed plan would have negative long-term consequences for the Nigerian economy.

In an interview on Arise Television’s ‘Prime Time’ program, Osifo stated that the primary concern of PENGASSAN and the Nigerian Union of Petroleum and Natural Gas Workers, NUPENG, is to protect the jobs and welfare of their members. As representatives of the oil and gas industry workforce in Nigeria, they also consider the overall well-being of the country. Osifo emphasized that Nigeria’s survival and prosperity are crucial for the members’ own survival.

The unions believe that selling assets would not only affect their members but also harm the Nigerian economy in the long run. Osifo warned that this decision would lead to plummeting revenue and create additional problems. The rejection of the plan is intended to safeguard both the economy and the members’ welfare.

The Nigerian government’s plan to sell assets has been a subject of controversy, with various stakeholders expressing concerns about its potential impact. The oil and gas sector is a significant contributor to Nigeria’s economy, and any changes to the industry can have far-reaching consequences. PENGASSAN and NUPENG’s stance on the issue highlights the need for careful consideration and consultation with relevant parties before making major decisions.

As the situation unfolds, it remains to be seen how the government will respond to the unions’ rejection of the plan. The outcome will likely have significant implications for the Nigerian economy and the oil and gas industry. With the country’s economic future at stake, the government and stakeholders must engage in constructive dialogue to find a solution that balances the needs of all parties involved.