PENGASSAN Advocates for Stable Oil Industry Policies

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) issued a communiqué at the conclusion of its three-day Energy and Labour Summit held in Abuja, advocating for stable and competitive policies in Nigeria's oil industry. The summit addressed various challenges, including proposed amendments to the Petroleum Industry Act (PIA), regulatory uncertainty, and the need for consistent investment policies.

PENGASSAN President Festus Osifo and General Secretary Jerry Amah signed the communiqué, urging the government to ensure stable regulations that protect national interests and facilitate responsible investments. The association highlighted the importance of the PIA 2021 as a reform milestone but stressed that long-term investments rely on predictable and transparent regulations.

The summit also called for improved coordination among regulatory bodies to reduce bureaucratic inefficiencies and enhance Nigeria's competitiveness for global energy investments. Furthermore, it emphasized the relationship between regulatory certainty, investment, and employment, urging operators to uphold safety and labor standards while engaging host communities as development partners.