The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on the Federal Government and regulatory agencies to provide a stable, predictable and investor-friendly policy environment to attract long-term investments into Nigeria’s oil and gas industry.
The call formed part of the resolutions contained in the communiqué issued at the end of the 5th edition of the PENGASSAN Energy and Labour Summit (PEALS 2026), held from August 19 to 21 at the Congress Hall of Transcorp Hilton Hotel, Abuja.
The summit, themed “Strengthening Regulatory Frameworks as a Catalyst for Stability and Growth in Nigeria’s Oil and Gas Industry,” brought together representatives of the Federal Government, regulators, oil and gas companies, investors, organised labour, industry professionals and other stakeholders.
Participants examined the regulatory, commercial and labour challenges affecting the industry, with particular attention to amendments to the Petroleum Industry Act (PIA), regulatory uncertainty, investment incentives, policy consistency, project execution, workers’ welfare and host community development.
In the communiqué signed by PENGASSAN President, Comrade Engr. Festus Osifo, and General Secretary, Comrade Jerry Amah, the association said Nigeria must move beyond policy formulation to actual implementation and measurable results.
The summit acknowledged the PIA 2021 as a major milestone in petroleum sector reform but stressed that the availability of laws alone would not attract the long-term capital required to develop the industry.
It urged government and regulators to minimise abrupt policy changes, ensure adequate consultation with stakeholders and guarantee transparency and consistency in the implementation of policies and regulations.
PENGASSAN also advocated the adoption of technology-driven regulations and better coordination among government institutions and regulators to eliminate overlapping mandates, repetitive approvals and conflicting directives.
According to the association, such measures would reduce the cost of doing business and improve Nigeria’s competitiveness in the global energy investment market.
Regulations must translate into projects, jobs
The summit emphasised that regulation must protect national interests, workers, host communities, investors, safety and the environment while simultaneously creating an enabling environment for legitimate businesses to operate efficiently.
It called for outcome-driven regulation backed by digitalisation, clear timelines, faster approvals and transparent processes.
The association said regulatory performance should ultimately be judged by its ability to facilitate responsible investment, increase production, generate government revenue, protect workers and create sustainable economic value.
It welcomed the commitment of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to periodically review its regulations and maintain transparent, time-bound licensing processes.
Nigeria must remain competitive for global capital
PENGASSAN said regulatory certainty was directly linked to investment, production, government revenue and sustainable employment.
It noted that Nigeria was competing with other oil-producing jurisdictions for limited global capital and could no longer depend solely on its vast hydrocarbon resources to attract investors.
The summit therefore urged the government to consolidate recent reforms and investment incentives that had stimulated renewed investments and Final Investment Decisions, while ensuring that the country remained competitive internationally.
On gas, the association said Nigeria’s over 215 trillion cubic feet (TCF) of proven reserves had not been sufficiently converted into reliable energy supply, industrial development and economic prosperity.
It called for an integrated national gas development strategy covering upstream supply, processing plants, pipelines, storage, LNG, LPG and CNG infrastructure.
The summit also stressed the need for commercially sustainable gas pricing, bankable offtake arrangements and creditworthy customers.
It urged accelerated deployment of gas for power generation, manufacturing, transportation, fertiliser production, petrochemicals and domestic cooking, while calling for measures to reduce routine gas flaring and methane emissions.
Sustain domestic refining, protect investments
PENGASSAN further called for sustained policies and investments to expand domestic refining capacity and reduce Nigeria’s dependence on imported refined petroleum products.
It stressed the importance of protecting refineries operating within Nigeria, including the Dangote Refinery and Waltersmith Refinery, among others.
According to the association, Nigeria must retain a greater share of the value generated from its petroleum resources through domestic refining, petrochemical production, gas processing and other value-added activities.
Such investments, it said, would create jobs, conserve foreign exchange and promote industrialisation.
Workers’ rights must be protected
The summit also reaffirmed the complementary roles of capital and labour in achieving sustainable economic growth.
It called for stronger protection of workers’ jobs, accrued benefits, pensions, collective bargaining agreements and other established rights, particularly during mergers, acquisitions, divestments and asset transfers.
PENGASSAN stressed that industrial harmony went beyond the absence of strikes, saying it required justice, mutual respect, effective communication, fair labour practices and shared prosperity.
It further declared that occupational health and safety must remain non-negotiable, insisting that increased production must never come at the expense of workers’ lives and wellbeing.
The association urged stakeholders to move Nigerian Content implementation beyond procurement targets to the development of Nigerian companies and professionals capable of competing globally.
It also called for stronger enforcement of expatriate quota requirements, insisting that foreign expertise should primarily be deployed where genuine skills gaps exist.
Such engagements, it said, must be accompanied by measurable knowledge transfer, understudy arrangements and succession plans for qualified Nigerians.
The summit also advocated continuous technical training, digital skills development, leadership training and preparation of Nigerian workers for emerging energy technologies.
While acknowledging improvements in the security of petroleum infrastructure and reductions in crude oil theft and pipeline vandalism, PENGASSAN called for sustained collaboration among government, security agencies, operators and host communities.
It stressed that host communities must be treated as genuine partners in petroleum development and urged effective implementation of the Host Communities Development Trust provisions of the PIA.
PENGASSAN: Execution must now be priority
One of the major resolutions of the summit was a call for greater implementation of existing policies and reforms.
The association noted that Nigeria already possessed substantial petroleum resources, laws, institutions, policies and human capacity, but that the major challenge remained the ability to translate them into bankable projects and measurable outcomes.
It consequently called for stronger execution discipline, measurable targets, clearly defined institutional responsibilities and transparent monitoring of commitments.
“Policies must translate into implementation; resources into projects; projects into production; production into value; and investment into sustainable jobs and national prosperity,” the summit declared.
As part of its action points, PENGASSAN urged the Federal Government to maintain a coherent and stable policy environment while resolving outstanding issues surrounding implementation of the PIA.
The association specifically called for recent Executive Orders issued by President Bola Tinubu to be submitted to the National Assembly as an executive bill to amend the PIA.
It also demanded transparency in the process and urged government to ensure that all relevant industry stakeholders were carried along.
The association further called for the rehabilitation and development of critical energy infrastructure and stronger measures to address insecurity and other factors increasing investment risks and costs.
Regulators urged to be “firm, fair and fast”
PENGASSAN urged regulatory agencies to adopt the principle of being “firm, fair and fast” in discharging their responsibilities.
It called for clearer regulatory requirements, faster approvals, consistency in decision-making and improved communication with industry stakeholders.
The regulators, it said, should establish key performance indicators to assess their effectiveness, with performance measured by actual results achieved in the industry rather than merely the number of regulations, licences or approvals issued.
Operators urged to prioritise workers, safety
The association also charged oil and gas operators and investors to make regulatory compliance part of their corporate culture rather than something undertaken only in response to regulatory pressure.
Companies were urged to continue investing in employee development, safety, training and professional advancement while promoting productivity and operational excellence.
Management was also encouraged to maintain open communication with workers and organised labour to build trust and prevent avoidable industrial disputes.
PENGASSAN pledges responsible unionism
For organised labour, the summit urged PENGASSAN to continue protecting the legitimate interests and welfare of its members while promoting productivity, professionalism and the sustainability of the enterprises in which they work.
The union was also urged to strengthen its role in continuous dialogue, early dispute resolution, skills development and knowledge transfer.
The summit called on the Petroleum Technology Development Fund (PTDF), universities, technical colleges and industry stakeholders to deepen partnerships aimed at producing workers equipped for the modern energy sector.
It advocated greater emphasis on practical training, research, modern laboratories, apprenticeships and industry-based learning.
Training programmes, it said, should increasingly cover emerging areas of the energy industry rather than focus exclusively on traditional petroleum skills.
Stakeholders urged to track implementation
PENGASSAN called for stronger platforms bringing together government, regulators, employers, organised labour and educational institutions to regularly address challenges facing the industry.
It recommended measurable targets for investment, production, employment, infrastructure and skills development, with progress reviewed periodically.
In its conclusion, the summit said Nigeria did not lack petroleum resources, human capacity or market opportunities, but needed to convert these advantages into investments, infrastructure, production, sustainable employment and shared prosperity.
It said the country’s oil and gas sector required a regulatory framework that was “stable but responsive, rigorous but efficient, protective but enabling” and capable of inspiring confidence for multi-billion-dollar investments.
The summit declared that the strength of Nigeria’s oil and gas industry should ultimately be measured not by the resources beneath the ground, but by the projects delivered, value created, Nigerian capabilities developed, decent jobs sustained and prosperity generated for Nigerians.
“The opportunity is enormous.The responsibility is shared. Execution must now be the priority,” PENGASSAN declared
