PENGASSAN rejects NASS bid to amend NLNG act

Oil workers, under the auspices of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), have opposed the proposed plan by the House of Representatives to amend the NLNG (Fiscal Incentives, Guarantees and Assurances) act, describing the proposed amendment as unnecessary.

PENGASSAN stated this during its recent National Executive Committee (NEC) meeting in Abuja, saying, “the amendment can cause imminent losses that will far outweigh any doubtful gains.”

A statement by the President, Comrade Francis Johnson, and acting General Secretary, Comrade Lumumba Okugbawa, said that amendment will impact negatively on the image of Nigeria.

It argued that the international community would perceive Nigeria as a country, which does not honour its promises as well as one which does not take its call for foreign investments, led by the President Muhammadu Buhari administration, seriously.