The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has commended the Federal Government’s effort to "nip in the bud the recurring cases of smuggling of fuel across the border towns of the country” by suspending the supply of fuel to border towns.
According to the communique signed by PENGASSAN president, Comrade Ndukaku M. Ohaeri, and the General Secretary, Comrade Lumumba Okugbawa, respectively, said the Federal Government's stringent approach to dealing with the matter was the right decision.
This was revealed after the Union's National Executive Council (NEC) meeting, stating that Nigeria has been said to be losing N2billion to fuel smuggling, thereby causing severe damage to the economy, which is currently gasping for survival.
PENGASSAN also reacted to the Petroleum Industry Bill (PIB), stating that the non-passage of the PIB has denied Nigeria lots of benefits that could have accrued to it from the hydrocarbon industry.
The organisation revealed that “Many countries that started the process of having legislation in place for their oil and gas industry after Nigeria started hers, have completed the process and are now reaping the fruits of the proactive laws.”
Calling for stringent measures, it said, “The NEC-in-Session, therefore, calls on the government to halt the uncertainty concerning the conclusion of the process by signing the PIGB into law first and completing the other aspects of the Bill for meaningful progress in the industry.”
The organisation called for a holistic implementation and strict adherence to the contents of the Act for its collective benefit.
They urged Nigerians to support the Federal Government to bail out the country from the claws of economic monsters.