SEO Riders:
- – PENGASSAN: Unstable laws dampen investor confidence in Nigeria’s energy sector
– Urges clarity in PIA amendments to protect jobs and long-term planning
– Highlights need for consistent policy amid praise for recent executive reforms
At the opening of the 4th Petroleum and Energy Advancement and Leadership Summit (PEALS 2025) in Abuja, the President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Mr. Festus Osifo, warned that persistent policy instability—especially erratic amendments to the Petroleum Industry Act (PIA)—is discouraging investment in Nigeria’s oil and gas sector. While acknowledging that updates to laws are necessary, he stressed they must be deliberate and coordinated to allow businesses the foresight needed for long-term planning, employment retention, and sustainable production.
Amid these concerns, Osifo also commended recent executive orders issued by President Tinubu, which he described as positive steps forward. The orders aim to bolster oil production, advance gas development, and streamline contracting procedures—demonstrating progress toward a more enabling environment.
