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Sunday, 25 September 2016

National Assets Sale: PENGASSAN threatens to shut down Nigeria

The petroleum and natural gas senior staff association  (PENGASSAN) has threatened to shut down the country if the federal government sells national assets as a way out of the current economic recession.
PENGASSAN described the plan as a self-destructive move.

It said the plan, meant to solve short term financial obligations, is targeted at handing over the nation’s collective common wealth to a few individuals and further impoverish the rest of the country men and women.

The senior staff trade union advised that instead of selling those assets, the government should look for other ways of increasing the revenue base of the country, while plugging loopholes and leakages in government’s finances.

It further advised governments at all levels to pump out money through execution of capital projects and payment of workers’ salaries to revive the economy.

PENGASSAN cautioned the Federal Government to be wary of the push to see the country’s assets as the Association will not sit back and watch national assets, especially those in the oil and gas industry such as the Nigeria Liquified and Natural Gas Limited that has become a huge revenue earner for Nigeria, refineries and shares in the upstream oil and gas JV operations being shared among those in power and their cronies.

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