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
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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