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PEF, others seek oil sector collaboration, sustainable growth

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As board gets outstanding recognition for development
To ensure economic stability, especially earnings from the oil and gas sector, the Petroleum Equalisation Fund (Management) Board (PEF), has called for collaboration and smooth running of business operations in the industry.

Speaking while receiving an award for outstanding contribution to the industry development, at an event that saw Osifo Festus emerge as the new President, Petroleum and Natural Gas Senior Staff Association of Nigerian (PENGASSAN), Executive Secretary of the Board, Ahmed Bobboi, said a move from industrial unrest to collaboration is critical to the nation’s economy.

Apart from the fact that the oil and gas sector remains Nigeria’s key source of revenue, current challenges facing the future of work in the industry in the face of emerging technologies and global economic downturn, Bobboi argued, must spur unity between labour and public as well as private employers.

Bobboi said: “This industry is key to the economic development of this country, so fostering unity is very important. 

“Labour union and management of oil companies have a common purpose to ensure the welfare of staff. The best thing is to work together to achieve this goal. We need to continue to foster cordial relationships.”

According to him, confrontation would not help the industry, as it would only drawback the progress it is making in the face of global challenges. 

“Collaboration is the way to go. If there are issues, there should be dialogue,” he added. 

Speaking on the award, he noted that the development was a testament of the efforts the agency is making to ensure that staff welfare is prioritised.  

Former Vice Chairman Board of ExxonMobil Nigeria, Udom Inoyo, who painted the gloomy state of the energy oil sector, said dexterity and collaboration are needed to hedge the challenges.

According to him, all hands must not only be on deck in the sector, but the sector must look in the same direction.

He noted that the current challenges posed by Covid-19 are forcing oil workers to make sacrificial decisions, including being quarantined and keeping to longer work schedules to ensure oil production is not interrupted.

Festus, a staff of Total Nigeria Plc, emerged as the 16th President of the Association after he defeated his sole challenger Roland Frederick of Shell Petroleum by 200 to 183 votes. 

A total of 384 delegates drawn from the Association branches nationwide participated in the 6th Triennial National Delegates Conference, held at the NAF Conference Centre Abuja. 

Others elected are Duru Mathew Deputy President, Victor Ononokpono, National Treasurer.


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