The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has cautioned that the country may soon witness a wave of talent flight in the oil and gas industry if remuneration is not urgently reviewed to reflect current economic realities.
President of PENGASSAN, Festus Osifo, said professionals in the oil and gas sector are increasingly considering opportunities abroad as inflation and the weakened naira continue to erode their earnings, reports The Nation.
Osifo stated this at a press conference after the National Executive Council meeting of PENGASSAN yesterday in Abuja.
According to him, Nigerian oil and gas experts are globally competitive and easily absorbed in international markets.
The PENGASSAN President said, “A drilling engineer in Nigeria performs the same tasks as one working in the U.S. or Abu Dhabi.
“If we fail to address wage disparities, what we’ve seen in other sectors will be a shadow of what will hit this industry.”
Osifo noted that although the union had secured several collective bargaining agreements across government agencies, international oil companies, and service firms, many organisations were still delaying salary adjustments despite the rising cost of living.
“This industry recruits some of the best talent in the country. Companies cannot hold back on proper remuneration if they want to retain skilled workers,” he said.
He reaffirmed that PENGASSAN remains committed to defending workers’ jobs and pushing for improved welfare across the oil and gas value chain.
The PENGASSAN leaders also called on the government at all levels to do everything possible to ensure that the prices of commodities in the market are under control.
Osifo added that economic achievements will remain meaningless to citizens unless policies translate into lower food prices and improved living standards.
“People want food on their tables, not just macroeconomic figures,” he said, urging authorities to align fiscal and monetary strategies to ensure real relief for households.
He added, “Today, yes, the inflation, we are still in numbers, they are coming down. But in the market, the prices are not coming down. When you go to the market with the sum of 100,000 Naira, what you will bring out is almost less than nothing.
“The government, from the federal to the state and to the local government, must do everything possible to ensure that the prices of commodities in the market are under control.
“They must ensure that farmers are able to return back to farms. Because it is when farmers go back to farms that they will be able to produce those food crops that could come to the market.
The PENGASSAN President also expressed deep concern over the rising insecurity across the country, urging the government to move beyond issuing statements of condemnation.
“We are tired of condemnations. The government must expose those sponsoring insecurity and protect citizens,” he said.
He backed calls for the establishment of state police, arguing that decentralised policing would strengthen community safety and help farmers return to their fields.
Osifo stressed that food inflation will persist if rural communities remain under threat.
