Petroleum and Natural Gas Workers blaming the delay in the passage of the Petroleum Industry Bill as the cause of the rot of oil industry

    Petroleum and Natural Gas Workers, NUPENG, is blaming the delay in the passage of the Petroleum Industry Bill for the rot in the oil industry and the slide in returns on oil investments.

   The Union, in a statement by its President and General Secretary, Igwe Achese and Joseph Ogbebor, respectively, called on the National Assembly to expedite actions for the passage of the bill to return the industry on path of growth.
   They therefore called on the National Assembly to expedite parliamentary actions for speedy passage of the bill for the purposes of engendering transparency, accountability and commensurate returns in the operations of Oil and Gas sector.
   On refineries, NUPENG noted that it is against current calls by some interested capitalists for the privatization of the nation’s four refineries and advised the Federal Government to perform Turn-Around-Maintenance of the refineries and upgrade their systems in order to allow them produce at full capacity.
   Furthermore, the union urged the Federal Government to grant tax holidays and free land to investors who want to establish private refineries.