News Investigators/ Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has urged that amendments under Executive Order 9 be subjected to legislative process to safeguard stability in the oil and gas sector.
Festus Osifo, President of PENGASSAN, said this on Tuesday in Abuja while addressing newsmen at the opening of the association’s National Executive Council (NEC) meeting.
President Bola Tinubu had, on Feb. 13, issued Executive Order 9 to reform oil and gas revenue management and enhance transparency in government earnings.
The order directs that all petroleum revenues, including royalties, taxes and profit oil, be paid directly into the Federation Account to curb leakages and enforce constitutional provisions.
Mr Osifo said the provisions of the order could undermine existing laws guiding the petroleum industry, particularly the Petroleum Industry Act (PIA).
According to him, any attempt to amend industry laws through executive orders rather than legislative processes threatens transparency and sectoral confidence.
“The provisions of Executive Order 9, as presently constituted, amount to a direct threat to the stability we currently enjoy in the oil and gas sector.
“Amending critical industry laws through executive orders, instead of legislative processes, undermines transparency, stakeholder confidence and long-term sectoral sustainability.
“Such actions, if unchecked, could negatively affect investments, operations and the welfare of workers across the petroleum industry,” he said.
The PENGASSAN president urged the Federal Government to channel all proposed legal amendments through the National Assembly for proper debate and stakeholder engagement.
He said policy uncertainty could discourage investment and disrupt ongoing reforms in the oil and gas industry.
Osifo added that the order could negatively affect workers’ jobs, welfare and operational funding structures within key industry institutions.
He noted that there were potential implications for salary payments and management fees tied to profit oil arrangements in joint venture operations.
He also said instability in the sector could reduce foreign exchange earnings and further weaken the national economy.
According to him, declining confidence in the sector could worsen inflationary pressures already burdening Nigerian workers.
Osifo, however, said PENGASSAN had held multiple engagements with government officials and would meet with the Presidential Implementation Committee to further address concerns over Executive Order 9.
He added that the discussions had been fruitful, expressing hope that both sides would bridge differences through dialogue.
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