Oyo govt hails Olabiyi-Agoro’s emergence as association’s president

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called for a fundamental shift in the way petroleum regulatory performance is assessed, saying regulators should be judged by the results they deliver in the oil and gas industry rather than the number of regulations, licences and approvals they issue.
 
The association made the demand in its communiqué issued at the end of the three-day PENGASSAN Energy and Labour Summit (PEALS) 2026 in Abuja, where it called for measurable performance indicators to determine whether regulatory interventions are actually delivering investment, production and growth in Nigeria’s petroleum industry.
 
Signed by PENGASSAN President Festus Osifo and General Secretary Jerry Amah, the association urged regulatory authorities to develop key performance indicators (KPIs) for their operations and ensure that regulatory effectiveness is measured by outcomes achieved across the industry.
 
The association said regulators must be “firm, fair and fast” in discharging their responsibilities, while providing clear regulatory requirements, improving the speed of approvals, ensuring consistency in decision-making and strengthening communication with industry stakeholders.

It cautioned against an approach where regulatory success is measured primarily by the volume of licences, approvals or regulations issued, stressing that the ultimate test should be the impact of regulation on the performance of the petroleum industry.
 
According to PENGASSAN, regulation must facilitate responsible investment, increase production, generate government revenue, protect workers and create sustainable national value.

The position formed part of the association’s broader call for a regulatory system capable of reducing the cost and uncertainty associated with investing in Nigeria’s oil and gas sector.

PENGASSAN said Nigeria was competing with other jurisdictions for finite global capital and could no longer rely solely on its hydrocarbon resources to attract investors.
 
It said the country must provide competitive fiscal and commercial terms, security, predictable regulation and efficient project execution to remain competitive for international energy capital.
 
The association also called for smarter regulation supported by digitalisation, clear timelines, faster approvals and transparent processes.
 
It said regulatory agencies and government institutions should improve coordination to eliminate overlapping mandates, repetitive approvals and conflicting directives that add to Nigeria’s cost premium and undermine competitiveness.

Meanwhile, the Oyo State Government has congratulated the Chairman of the Trade Union Congress (TUC), Oyo State Council, Bosun Olabiyi-Agoro, on his emergence as the President of PENGASSAN.
 
The Acting Governor of the state, Abdulraheem Bayo Lawal, described Olabiyi-Agoro’s emergence as a positive development for the association, expressing confidence that his experience, exposure and commitment to workers’ welfare would contribute to the growth of PENGASSAN.

Lawal stated this in a congratulatory message made available to journalists by the Special Adviser to the Governor on Media, Dr Sulaimon Olanrewaju, yesterday.