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PENGASSAN predicts loss of 18,000 jobs from planned sale of NLNG, warns FG

The leadership of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has said Nigeria’s oil and gas sector would lose 18,000 jobs if the proposed sale of the Federal government’s shares in  the Nigeria National Liquefied  Gas (NLNG) Limited, is executed as planned.

In a statement signed by Mr. Fortune Obi, the National Public Relations Officer of the union, PENGASSAN averred that “the House of Representatives’ decision to caution the Federal Government to suspend the proposed sale of her shares in Nigerian Liquefied Natural Gas (NLNG) is right and in the interest of the nation.

The group argued that “rather than sell its shares, the  government should explore other options to fund the economy rather than selling a viable company like NLNG which dividends was used to kick start and finance the economy when Nigeria was in recession”.

“NLNG has bailed out Nigeria when the country was in recession as proceeds from its dividends were used to finance the economy. Those investors who were clamouring for the FG to sale her shares in NLNG should find another means of injecting their resources into the economy instead of buying a successful company.

“In the alternative, they should set up their own LNG project and help the country in utilising its large gas reserves as well as eradicating gas flaring in the country,” he said.