By Atoyebi Nike
Nigeria’s two major oil unions, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), have opposed the Federal Government’s reported plan to sell off 30-35 per cent of its stakes in joint venture assets managed by the Nigerian National Petroleum Company Limited (NNPCL).
At a joint press conference in Abuja, PENGASSAN President Festus Osifo and NUPENG leader Williams Akporeha warned that the sale would weaken NNPCL, bankrupt the company within years, and undermine Nigeria’s long-term economic security.
The unions accused the Ministry of Finance of attempting a “backdoor hijack” of NNPCL and cautioned against frequent amendments to the Petroleum Industry Act, saying it would scare off investors. They urged President Bola Tinubu to halt the plan and rein in officials pushing for divestment.
While no strike was declared, the unions warned they would “fight with everything” to block the sale, insisting national oil assets must be preserved in the country’s interest.
