PENGASSAN to Discuss Tinubu's Oil Revenue Order

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) is scheduled to meet with a presidential committee on Wednesday to discuss the implementation of President Bola Tinubu's executive order concerning oil revenue remittance. This order, signed on February 13, 2026, aims to safeguard oil revenue due to the federal government and improve remittance processes.

Festus Osifo, the union's president, expressed optimism that dialogue with government officials will yield a compromise beneficial to workers and the stability of the oil and gas sector. The executive order includes provisions to scrap the 30% frontier exploration fund and management fees, which are critical to ensuring fair compensation for workers involved in oil production.

The order also invokes constitutional provisions regarding ownership and control of mineral resources. PENGASSAN has engaged with government representatives to address concerns about the order's impact on the industry and workers, emphasizing the need for transparency and stability in the sector.