The Petroleum and Natural Gas Senior Staff Association of Nigeria has called on the Federal Government to sell its majority stake in state-owned refineries. PENGASSAN President Festus Osifo made the demand in Abuja at the fourth Energy and Labour Summit.
Mr Osifo said Nigeria’s refineries continue to suffer inefficiency due to political interference and poor management, despite the availability of skilled local manpower. He recommended a model similar to the Nigeria LNG, where private investors hold majority control.
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The PENGASSAN leader also urged government to increase oil exploration, warning that Nigeria’s 37 billion barrels of reserves could remain underutilised if production stays around two million barrels per day. He advised that oil revenues be channelled into infrastructure, education, and healthcare to support national development.
Also speaking at the summit, Nigerian Content Development and Monitoring Board Executive Secretary Felix Ogbe stressed the need to prioritise human capacity. He said technical training, research, and STEM education remain vital to sustaining Nigeria’s oil and gas industry in the era of automation and energy transition.
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