PENGASSAN, PPMC, others to down tool over $7bn debts

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Department of Petroleum Resources (DPR) and  Petroleum Products Pricing Regulatory Agency (PPPRA), have signified their plans to embark on strike and shutdown of the operations and activities in the oil and gas industry.

In a press statement signed by the National Public Relation Officer, PENGASSAN, Comrade Emmanuel Ojugbana, members on Tuesday, met in all the zones to fine-tune the strategies and modalities for the strike.

He explained that the gradual method of shutdown of the oil facilities had been  critically examined and  that had been adopted by the members.

Ojugbana added: “The action, which will cripple all activities and operations in the oil and gas sector, will affect all the sub sectors as our members in the Department of Petroleum Resources (DPR), Petroleum Products Pricing Regulatory Agency (PPPRA), Petroleum Equalisation Fund (Monitoring Board) PEF (MB), Pipelines and Products Marketing Company (PPMC), National Petroleum Investment Management Services (NAPIMS), oil majors, labour and contract services companies, and petroleum products marketing companies will join in the action”.

The spokesman appealed for understanding of all Nigerians and operators that will be impacted by the action, saying that the industrial action is critical to the survival of the oil and gas industry, which according to him, currently is the mainstay of the nation’s economy.

Onuegbu said: “PENGASSAN and its members have been facing challenges recently due to the mass sack of its members by various oil and gas companies and that companies have been facing serious challenges due to slump in oil prices, militant attacks”.

He added that the Federal Government owed the JV partners about $7 billion piled up from the indebtedness of the previous administrations, which was about $5 billion before it racked up to about $7 billion as at today.

According to the statement from PENGASSAN, the association tried to engage the Federal Government on May 24, 2016, but that the meeting was inconclusive. The engagement was later fixed for June 23, 2016, which did not take place and again of June 30, 2016 which was unceremoniously cancelled with no new date given.