By Bimbola Oyesola
Oil workers under the umbrella of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have hailed President Muhammadu Buhari’s action rescinding his decision approving the sale of Mobil Oil Producing Nigeria Unlimited to Seplat Energy Plc.
The workers, mostly from the Nigerian National Petroleum Company (NNPC) Limited, under the aegis of the Group Executive Council (GEC) applauded President Buhari for withholding the Ministerial consent to the acquisition of the oil and gas assets.
In a statement issued on Tuesday and signed by the GEC Chairman, Emeka Okorie and Secretary, Peter Asemota, the workers said the decision was indeed timely, necessary and commendable as it places national interest over and above other interests.
The statement read, “These Assets are part of the nation’s most prolific assets and the lowest cost JV with excellent community reputation and peaceful operations.
“It is the collective decision and resolution of GEC of NNPC PENGASSAN that the management of NNPC Limited should go ahead, in the best interest of the nation, to exercise its inalienable Right of First Refusal (RFR) to acquire the 40 per cent assets of MPNU and every other Joint Ventures (JV) in Nigeria as this will position NNPC for better productivity, efficiency and maximum return on investment in the oil and gas industry.”
The Group also lauded the vigilant and watchdog role played by the nation’s oil and gas regulator, the Nigerian Upstream Regulatory Commission (NUPRC) led by Mr Gbenga Komolafe for ensuring transparency, fairness, adherence to process and due diligence in the entire acquisition process.
It stated that this has protected the nation from unforeseen and imminent losses that would have occurred as a result. The GEC of NNPC PENGASSAN equally commended the leadership of NNPC Limited under Dr. Mele Kolo Kyari, for the overwhelming innovations, wisdom and creativity brought to bear in the management of the nation’s hydrocarbon.