Oil and Gas Revenue: PENGASSAN seeks legislative process on Executive Order 9

The Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has urged that amendments nether Executive Order 9 beryllium subjected to legislative process to safeguard stableness successful the lipid and state sector.

President of PENGASSAN, Mr Festus Osifo said this connected Tuesday successful Abuja portion addressing newsmen astatine the opening of the association’s National Executive Council, NEC, meeting.

Recall that President Bola Tinubu had, connected February 13, issued an Executive Order 9 to betterment lipid and state gross absorption and heighten transparency successful authorities earnings.

The bid directed that each petroleum revenues, including royalties, taxes and nett lipid beryllium paid straight into the Federation Account to curb leakages and enforce law provisions.

Osifo said the provisions of the bid could undermine existing laws guiding the petroleum industry, peculiarly the Petroleum Industry Act, PIA.

According to him, immoderate effort to amend manufacture laws done enforcement orders alternatively than legisla...