VIDEO: PENGASSAN CONDEMNS EXECUTIVE ORDER ON OIL REVENUE, SAYS TINUBU ILL-ADVISED

By: Sefiu Ajape

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has criticized the Executive Order signed by President Bola Tinubu aimed at promoting gas production in Nigeria.

Tinubu signed the Executive Order, titled “The Upstream Petroleum Operations Cost Efficiency Incentives Order (2025),” on Thursday.

Speaking at a press conference in Abuja, PENGASSAN President, Festus Osifo argued that the tax incentives granted to oil companies by the president may not reduce operational costs if insecurity in the sector is not addressed.

“The Executive Order signed by the President yesterday is a direct attack on the provisions of the Petroleum Industry Act (PIA)—specifically Sections 8, 9, and 64,” Osifo said.

“What the President has done is use an Executive Order to set aside a law of the Federal Republic of Nigeria. This is deeply troubling. What signal are we sending to investors and the international community?

“We are effectively telling them that the law of the land can be set aside by a simple executive decree. This is an aberration and should never have happened.”

He added that Tinubu was ill-advised in signing the order.

Watch his comment about the new executive order below: