Nigerian Oil Workers Launch Major Opposition to Government Asset Sale Plans
In a dramatic escalation of tensions between labor unions and the Federal Government, Nigeria’s two largest petroleum worker unions have launched a fierce campaign against plans to sell government stakes in Joint Venture oil assets. The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) declared their strong opposition during a joint press conference in Abuja on Tuesday.
PENGASSAN President Festus Osifo delivered a stern warning that the proposed asset sales would “mortgage Nigeria’s future” and “cripple the oil industry.” The unions, representing the largest workforce in NNPC Limited, expressed concerns that the sales would destabilize the Nigerian National Petroleum Company and put thousands of jobs at risk.
“The government must leave our assets alone and focus on boosting crude production, not quick cash that endangers Nigeria’s future,” Osifo declared, calling on President Bola Tinubu to intervene directly. The government currently holds between 55 and 60 percent stakes in JV assets managed by NNPC Limited on behalf of the federation.
The unions also strongly opposed proposed amendments to the Petroleum Industry Act, particularly plans to remove the Ministry of Petroleum from NNPC’s ownership structure and transfer control solely to the Ministry of Finance. “This is an aberration. Everywhere in the world, national oil companies operate under petroleum ministries,” Osifo stated.
NUPENG President Williams Akporeha questioned the timing of the asset sales, noting that subsidy removal had already increased federation revenues. “They told us the subsidy was draining funds. We supported its removal in the hope of better infrastructure and security. Now, with more revenue, why sell our remaining assets?” he asked.
Source: championnews.com.ng
