Business Hilights

Tracking Nigeria's Headline Business News Online


Oil workers strongly oppose NASS drive to amend NLNG Act

Ad 2
Ad 3

Oil and gas workers, under the aegis of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), have opposed amendment of the Nigeria Liquefied Natural Gas (NLNG) (Fiscal Incentives, Guarantees and Assurances) Act by the House of Representatives.

Expressing their opposition in a statement weekend signed by Francis Johnson and Lumumba Okugbawa, PENGASSAN President and Acting General Secretary respectively, after the association’s National Executive Council meeting in Abuja, they said the amendment, if effected, will impact negatively on Nigeria’s image of Nigeria and may cause imminent losses that will far outweigh any doubtful gains.

They argued that the international community would perceive Nigeria as a country which does not honour its promises or take its desire for foreign investments seriously.

“The proposed amendment can directly affect some 25 billion dollars worth of foreign investments as well as another 18,000 Nigerian jobs linked to NLNG’s Train 7 and 8 expansion programmes.

“This will negate the job creation and job security policy being propagated by the current administration.’’


Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.