Abuja: The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has issued a warning that ongoing policy instability is deterring investment in Nigeria’s oil and gas sector. Mr Festus Osifo, President of PENGASSAN, raised this concern during the opening of the 4th Petroleum and Energy Advancement and Leadership Summit (PEALS 2025), held in Abuja. The event was themed ‘Building a Resilient Oil and Gas Sector in Nigeria.’
According to News Agency of Nigeria, Osifo highlighted that frequent amendments to key laws, especially the Petroleum Industry Act (PIA), have created uncertainty for investors. He stressed that while amendments are sometimes necessary, they should not be haphazard or intermittent. Businesses require stable policies for long-term planning, job protection, and sustainable production. Despite this concern, Osifo praised recent executive orders by President Bola Tinubu aimed at boosting oil production, advancing gas development, and streamlining contracting processes, describing them as ‘steps in the right direction.’
On the topic of worker safety, Osifo emphasized the importance of robust safety procedures, continuous training, and transparent reporting across both offshore and onshore facilities. He referenced a 2024 helicopter crash near Bonny that resulted in the loss of three PENGASSAN members’ lives, underscoring the critical nature of safety in the industry.
Addressing environmental concerns, Osifo called for an immediate halt to gas flaring, cleanup of polluted areas, and stricter accountability for oil operators. He stressed the importance of protecting Nigeria’s land, rivers, and air, noting that Environmental, Social, and Governance (ESG) standards are crucial for global competitiveness. Osifo also emphasized the need for sustainability reporting to be considered alongside financial statements.
The PENGASSAN President outlined the summit’s focus on exploring pathways to sustain production recovery, curb pipeline vandalism, resolve contract delays, develop marginal fields, and bridge funding gaps. He also pledged the union’s ongoing commitment to its members’ welfare, including leadership development, health programs, wealth creation, and estate planning.
In his remarks, Mr Bayo Ojulari, Group CEO of NNPC Ltd, praised PENGASSAN’s leadership and described PEALS as a strategic platform that aligns labor, industry, and government to shape Nigeria’s energy future. Ojulari reaffirmed NNPC’s dedication to innovation, collaboration, and safety, highlighting the essential nature of partnerships with unions and regulators to build a globally competitive oil and gas sector.
Minister of Labour and Employment, Muhammad Dingyadi, also addressed the summit, emphasizing that resilience in oil and gas is not only about infrastructure or investment but also about people, labor policy, and workforce empowerment. He reiterated the ministry’s commitment to tripartite dialogue, decent work, skills development, and fair wages, stressing that health and safety should be ‘non-negotiable pillars’ of a resilient energy system. Dingyadi urged companies to prioritize ESG compliance and called on unions to pursue constructive engagement, while government agencies should streamline regulations to balance labor welfare with investor confidence.