The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has raised concerns over increasing political interference in the country’s oil and gas industry, cautioning that such actions could undermine investor confidence and weaken the Nigerian National Petroleum Company Limited (NNPCL).
At a press briefing in Lagos on Thursday, PENGASSAN President Festus Osifo emphasized that executive decisions affecting the sector should involve broad consultations with key stakeholders.
He warned that bypassing professional management could reduce operational efficiency and deter investment.
“NNPCL is staffed by experienced professionals who understand the technical and commercial aspects of the industry.
”Excessive political involvement risks undermining their expertise,” Osifo said.
He also highlighted the broader economic implications, noting that a stable oil sector is crucial for the naira, national wages, and overall living standards.
“Investment in oil and gas is capital-intensive and long-term. Investors seek predictable, transparent policies.
”Uncertainty drives capital away,” he added.
Osifo stressed that Nigeria must maintain regulatory stability to remain competitive in the global energy market.
He noted challenges with marginal field projects, where delayed production has exposed financial institutions to risks, demonstrating the importance of consistency in policy enforcement.
PENGASSAN plans to convene its National Executive Council to develop an engagement strategy, aiming for constructive dialogue with the government, regulators, and other stakeholders.
“Our goal is not confrontation but to ensure the sector remains strong, transparent, and capable of supporting national development,” Osifo said.
