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PENGASSAN cautions FG over poor budget implementation, infrastructure decay

UFOMBA UZUEGBU

A pitiable picture of an emergent world in which Nigeria, may indeed be left behind, was painted in Lagos on Thursday, at the National Executive Council (NEC) of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

PENGASSAN President, Felix Osifo, speaking at the opening of the NEC meeting, expressed deep concern over the proposed $30 billion 2025 budget, saying it was too abysmal and incapable triggering any meaningful development and relaunching the economy on the path of sustainable economic growth.

Noting that a less endowed South Africa has a budget of $ 120 trillion, Osifo argued that Nigeria can run a  $400 trillion budget successfully,if the nation’s resources are properly harnessed.

On the nation’s power sector, Osifo noted that the absence of  competent and knowledgeable professionals in key positions, was one of its major challenges.

He stressed the need for qualified individuals to lead the Ministry of Power, Nigeria Electricity Regulatory  Commission ( NERC) and other critical agencies.

He listed grid collapses, recurring tripping of transmission lines and adequate electrify generation, as evidence of the sector’s calamities.

Recall that Nigeria recorded 12 grid collapses in 2024, with electricity oscillating between 3,000 and 4,000 MW.

“The continuous grid collapses in 2024—recent trip-off of transmission lines and the inability to inability to generate sufficient electricity, ranging between 3,000 and 4,000 MW since 1999 despite billions of dollars invested in the power sector, are clear indications of the need for better leadership and infrastructure protection”, Osifo said.

The PENGASSAN boss cautioned  against federal government’s alleged surreptitious moves to increase Value Added Tax ( VAT), stressing that such a move would worsen the hardship faced by Nigerians and plunge more people into poverty.

On the contrary, PENGASSAN  canvassed for the expansion of the tax net to bring more people into compliance rather than increasing the financial burden on  the citizenry.

Osifo called on the National Assembly to ensure that henceforth, public hearings on  the tax reform bill, are meaningful and not mere jamborees.

On the state of nation’s refineries, Osifo expressed satisfaction over  the progress in both the Port Harcourt and Warri refineries and charged relevant agencies to redouble efforts and deliver on their mandate.

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