- PENGASSAN Asks Tinubu To Withdraw Order On Oil Revenue Remittance
- Union said directive breaches Petroleum Industry Act.
- Group warned order could threaten industry jobs.
The Petroleum and Natural Gas Senior Staff Association of Nigeria has urged President Bola Ahmed Tinubu to immediately withdraw the recent executive order directing the direct remittance of oil and gas revenues to the Federation Account Allocation Committee.
The directive, signed on February 18, mandates the Nigerian National Petroleum Company Limited to remit revenues directly to FAAC, effectively removing its oil revenue deduction powers.
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EKO HOT BLOG reports that speaking at a press briefing on Thursday, PENGASSAN President Festus Osifo described the order as a direct violation of the Petroleum Industry Act.
“The executive order that was signed by the president yesterday is a direct attack on the PIA. The provisions are sections 8, 9, and 64 of the PIA. It’s a direct attack,” Osifo said.
He argued that an executive order cannot override an Act passed by the National Assembly.
“You will agree with me that when we talk about executive orders, they cannot supersede the law of the land. Executive order cannot override the provision of a law,” he stated.
Osifo maintained that while the President has constitutional powers to issue executive orders, such authority must not conflict with existing legislation. He suggested that the President may not have been fully briefed before signing the directive.
“But we strongly believe that, in this particular case, the president has been misled. We strongly believe that the people advising the president did not actually tell him the entire truth,” he said.
He warned that the order could undermine investor confidence and contradict ongoing efforts to attract investment into the oil and gas sector. According to him, the move sends a troubling signal that established legal protections could be altered through executive action.
Osifo also cautioned that failure to reverse the order could affect workers, warning that NNPC might struggle to meet its obligations, potentially putting jobs at risk.
He called on the President to review and recall the directive to safeguard the integrity of the Petroleum Industry Act and protect industry stability.
