PIB/Insecurity Challenges: No sane investor will invest… PENGASSAN tells FG

By Appolos Christian

Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), called on the Federal government to give thr passage of Petroleum Industry Bill (PIB) and worsening security challenge in the country a serious attention.

PENGASSAN also reminded government that no sane investor would want to invest where the security of his investment and staff are not guaranteed or where there is high cost of doing business.

Contained in an address delivered at PENGASSAN 6th Triennial National Delegates’ Conference in Abuja, by its president, Engr. Ndukaku Michael Ohaeri, the Union said “The security and energy challenges if not tackled, will continue to negatively hamper all efforts of the government as no sane investor would want to invest where the security of his investment and staff are no mt guaranteed or where there is high cost of doing business due to poor electricity supply and same applies to tourists.”

The union went on to advised; “The Economic Advisory Council should come up with economic recovery and growth roadmap that Will prevent a total collapse of the economy from the global effects of the COVID1 9 pandemic.”

PENGASSAN also said, “We encourage the National Assembly to resolve the challenges that have characterized the non passage of the PIB in the past. The non-passage of the PIB has denied Nigeria lots of benefits that could have accrued to it from the hydrocarbon industry. Nigeria has lost so much revenue that could have accrued to the government coffer, as existing Investments are stalled and potential investors scared of coming.

“It beats our imagination that many countries that started this same process of legislation for their Oil and Gas industry behind Nigeria have completed same and now savouring the taste of the exercise.

“We appeal to the Government, especially the Technical Committee putting finishing touches to the new PIB to ensure greater stakeholder engagement to improve the final outcome of the bill before being sent to the NationalAssembly for consideration and passage.

“The passage of this very important piece of legislation will give room for meaningful progress to be made in the Oil and Gas industry in particular and N i geria in general.”

On the issue of Integrated Personal Payroll Information System (IPPIS), the Union ssid; “We have observed with dismay the reluctance and opacity of the office of the IPPIS in the enrolment of PENGASSAN members. The Association had severally yielded to the demands of the IPPIS in spite of obvious loss of confidence in the workability of the platform.

“Our Association picked hole in the authority’s stoppage of salaries of PENGASSAN members, which led to industrial unrest in the Nation’s Oil and Gas sector and calls for continuous engagement with a view to amicable resolution of our members’ concern.”

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