The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) have strongly rejected the Federal Government’s proposed plan to sell off some of the country’s national assets. The two influential oil unions described the move as a short-sighted economic strategy that could mortgage Nigeria’s future and worsen its socio-economic challenges.
In a joint statement, the unions argued that national assets are collective wealth and heritage, which must be preserved for the benefit of all Nigerians rather than being sold to private interests. They expressed fears that the assets, if sold, would end up in the hands of a few wealthy individuals and foreign investors, thereby depriving the citizens of their common patrimony.
The unions specifically warned that such a policy could lead to job losses, reduced national revenue, and further deepen poverty and inequality. They insisted that instead of selling, the government should focus on revamping and effectively managing the assets to yield maximum economic benefits. According to them, poor governance and corruption, rather than inefficiency of the assets themselves, remain the greatest hindrance to their productivity.
PENGASSAN and NUPENG also accused the government of ignoring the broader implications of asset sales on national security, noting that critical infrastructure in the oil and gas sector should never be ceded to private hands. They maintained that the privatization of strategic assets would amount to economic sabotage, as it could undermine Nigeria’s sovereignty and bargaining power in the global energy market.
The unions further criticized what they described as government’s “fire-brigade approach” to economic recovery, stressing that selling assets to plug budget deficits is unsustainable. They urged policymakers to explore alternative measures such as improving tax collection, curbing corruption, diversifying the economy, and creating enabling environments for local industries to thrive.
While expressing readiness to engage the government in dialogue, PENGASSAN and NUPENG warned that they would not hesitate to mobilize their members nationwide if the asset sale plan is not shelved. They emphasized that the collective voice of workers must be respected in decisions that affect the future of Nigeria’s economy and its citizens.
As the debate over the proposed sale continues, attention is now shifting to how the government will respond to the mounting opposition from labor unions, civil society groups, and other stakeholders who insist that Nigeria’s assets must remain in public ownership for the good of present and future generations.
