The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has faulted the Executive Order signed by President Bola Tinubu, targeted at promoting gas production in Nigeria.
Tinubu signed the Executive Order, titled: “The Upstream Petroleum Operations Cost Efficiency Incentives Order (2025)” on Thursday.
But at a press conference in Abuja, PENGASSAN president, Festus Osifo, argued that the tax incentives granted to oil companies by the President may not help in the reduction of cost if insecurity is not addressed.
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“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 said Tinubu was ill-advised.
Watch his comment about the new executive order below:
