The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called upon President Bola Ahmed Tinubu to consider relocating Military Chiefs to the Niger Delta region in a bid to curb crude oil theft, enhance revenue generation, and stabilize the nation’s economy.
Addressing journalists during the Association’s National Executive Council (NEC) meeting in Abuja, PENGASSAN President Comrade Festus Osifo emphasized the urgent need for increased attention to the Niger Delta region.
He stressed that boosting crude oil production was vital for economic stability, citing a potential 30% increase in output as achievable with the proper measures.
Osifo underscored the importance of addressing the menace of crude oil theft, urging President Tinubu to direct military commanders to focus efforts on combating this illegal activity.
He highlighted the potential economic benefits of halting oil theft, including increased revenue generation and enhanced financial stability.
Furthermore, PENGASSAN condemned the recent killing of military personnel in Delta state, urging caution in the military’s response to avoid excessive force and potential reprisals.
Osifo referenced previous incidents in Zaki Biam and Odi, stressing the importance of ensuring that perpetrators are apprehended and brought to justice.
Regarding recent government announcements on electricity tariff adjustments, Osifo expressed concerns about potential impacts on consumers, particularly those in lower-income brackets.
While acknowledging the need for sustainable energy pricing, he emphasized the importance of ensuring that tariff adjustments do not burden vulnerable segments of society.
PENGASSAN also raised concerns about implementing targeted subsidies, cautioning against potential misuse and emphasizing the importance of ensuring that subsidies reach the intended beneficiaries.
The association called for careful consideration of the long-term implications of subsidy policies and advocated for alternative solutions to address poverty and inequality.
The association also condemned the nation’s rising debt profile and warned of the potentially catastrophic consequences of irresponsible borrowing.
Osifo urged government authorities to prioritize responsible fiscal management and halt the trend of purposeless borrowing that jeopardizes the nation’s future.