Business
PENGASSAN Wants Inclusive Stakeholders’ Summit In Oil, Gas Sector
The Petroleum and Natu
ral Gas Senior Staff Association of Nigeria (PENGASSAN) has advocated for an all-inclusive stakeholders summit of the oil and gas key operators and players to address major challenges facing the industry.
In a statement on Wednesday by the National President of the union, Comrade Francis-Johnson, the union said that the all inclusive stakeholders summit would include the Presidency, National Assembly, security agencies, state governments, ministries, departments, agencies, Nigeria National Petroleum corporation (NNPC), Nigeria Extractive Industry Transparency Initiative, Federal Inland Revenue offices, the organized labour unions in the sector with a view to harmonizing any grey areas within the oil sector.
Johnson said the summit would also ensure the accelerated passage of the Petroleum Industry Bill (PIB) in a very fair and equitable manner acceptable to all stakeholders.
He alleged that there is growing anxiety within host communities waiting to benefit from the PIB’s Provision of 10 per cent host community fund as enshrined in the PIB, stressing that the host communities would accept accountability for sabotage of oil installations in their areas.
The union’s boss said that there is fear that the issues in the PIB may be compounded through the irregular funding of the Joint Venture (JV) budget and the non-payment of cash call obligations, in the face of the dwindling oil price.
He said the union expects that the PIB when passed eventually by this present administration and 8th National Assembly would clarify the rules and procedures that would entrench good governance, transparency and accountability in the oil and gas sector, as well as address the issue of operational and fiscal challenge.
Johnson said addressing these issues would enable the country to competitively retain equitable proportion of revenue accruing from oil and gas industry operations.
He said the union would always identify with well meaning administration as strategic stakeholder and partner in all spheres of the oil and gas industry’s operations, stressing that the union as an umbrella body of senior professional in the oil and gas sector has already presented a road map to effectively support positive action against the litany of issues and challenges in the oil and gas sector.
The labour leader blamed the drop in oil price and its effect on the country’s economy on the lack of foresight and strategic plan towards local refining activities.
Philip Okparaji
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