PENGASSAN Raises Alarm Over Tinubu’s NNPC Revenue Directive, Cites Threat to Jobs

Story : Written by Joseph February 20,2026
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has cautioned that a recent executive order by President Bola Ahmed Tinubu mandating direct remittance of oil revenues could destabilise Nigerian National Petroleum Company Limited and expose workers to possible job losses.
The directive, signed on February 18, requires NNPC Limited to remit all oil and gas earnings straight to the Federation Account Allocation Committee without first deducting operational expenses. PENGASSAN argues that this approach undermines the company’s ability to meet its financial obligations.
Speaking on Thursday, PENGASSAN President Festus Osifo said the order contradicts provisions of the Petroleum Industry Act, which recognises NNPC Limited as a commercially driven entity with defined financial independence. He warned that the policy could leave the company unable to sustain staff costs and other commitments.
“Our members face the risk of redundancy if NNPC is stripped of the capacity to manage its finances as provided by law,” Osifo said, insisting that executive directives cannot override legislation enacted by the National Assembly.
The union also expressed concern that the move may unsettle investors by casting doubt on the stability of Nigeria’s oil and gas regulatory framework. According to PENGASSAN, uncertainty over whether statutory protections can be altered through executive action could weaken confidence in the sector.
Osifo added that the union believes the president may not have been fully briefed on the wider implications of the order, noting that it runs counter to ongoing efforts to attract fresh investment into the industry.