English>

Market News

Why Nigeria refineries are failing – PENGASSAN - THE NATION

AUGUST 23, 2025

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has identified political interference which denied workers the tools, resources, and enabling environment to deliver effectively as the reasons why the government  owned refineries are failing in Nigeria.

The association’s President, Festus Osifo,  who stated this yesterday  at the ongoing 4th PENGASSAN and Labour Summit (PEALS 2025), also identified widespread corruption and mismanagement as reasons for the failure of the refineries.

The three-day summit holding in Abuja is themed, “Building a Resilient Oil and Gas Sector in Nigeria: Advancing HSE, ESG, Investment and Incremental Production.

Osifo said Nigeria’s energy future requires more than skilled manpower and there is the urgent need for tools, policy stability, and supportive reforms to drive growth in the energy sector.

According to him, during the COVID-19 pandemic, Nigerian workers successfully operated offshore platforms after expatriates departed.

He said the development had proven that the country possessed skilled manpower capable of sustaining global-standard energy production without disruption.

According to Osifo,  policy inconsistencies and political interference undermine investor confidence and cripple the nation’s oil and gas sector.

He also expressed concerns over frequent changes to petroleum laws, warning they discourage vital investments.

He added that predictability in fiscal regimes is key to attracting petrodollar into Nigeria’s economy and long-term infrastructure development.


SEE HOW MUCH YOU GET IF YOU SELL

NGN
This website uses cookies We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services
Real Time Analytics