The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called for ongoing discussions between government, regulators, operators, and labor unions to protect the country’s oil and gas industry.
Speaking in Lagos on Thursday, PENGASSAN President Festus Osifo emphasised that clear policies and consistent engagement are vital to attract investment and maintain operational confidence.
He noted that the oil and gas sector remains a cornerstone of Nigeria’s economy, contributing significantly to government revenue and foreign exchange earnings.
Osifo highlighted the Petroleum Industry Act (PIA) of 2021, describing it as a critical framework that provides transparency, regulatory clarity, and incentives for investors.
He stressed that collaboration among all stakeholders is necessary to sustain growth, safeguard jobs, and ensure the industry remains competitive globally.
“The stability of this sector directly affects livelihoods and the broader economy,” Osifo said, urging the government and industry players to continue dialogue and align policies for long-term efficiency and investor confidence.
