Nigeria TV Info 

PENGASSAN, NUPENG Reject FG’s Plan to Sell Oil Assets

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) have strongly opposed the Federal Government's proposal to divest significant stakes in Joint Venture (JV) oil assets managed by the Nigerian National Petroleum Company Limited (NNPCL).

At a joint press briefing in Abuja on Tuesday, PENGASSAN President, Comrade Festus Osifo, and NUPENG President, Williams Akporeha, expressed concerns that the sale of up to 30–35% of government holdings in these assets could destabilize the oil industry, weaken the NNPCL, and jeopardize workers' welfare.

The unions also criticized proposed amendments to the Petroleum Industry Act (PIA), alleging that the Ministry of Finance intends to assume control of NNPCL, sidelining the Ministry of Petroleum. They argue that such changes would undermine investor confidence and threaten the company's national role.

Both unions have called on President Bola Tinubu to intervene and halt these plans, warning that failure to do so could have severe economic consequences.