
By allcitynews.ng
The President of Petroleum and Natural Gas Senior Staff Association of Nigeria
(PENGASSAN), Comrade Festus Osifo has described efforts by Federal Government to build industrialised economy with focus on taxation alone, without functional and efficient industries to checkmate dollarised economy would be a mirage.
Just as he called for stronger collaboration with media for achievement of developmental governance by federal government.
Making this call during the just concluded PENGASSAN National Executive Council (NEC), meeting which took place in Oriental Hotel, Lagos, Nigeria, Osifo noted that since frequent collapses of National Grid have become source of embarrassment to the country, the media can use their reportage as form of weapon to the safeguarding National assets.
According to him, irrespective of whatever might have caused the over five times collapse in year 2024 and a collapse of the National Grid in January 2025, it showed that there is need for collaborative efforts to checkmate the alleged vandalism that could caused the collapse and make sure that involvement of politicians at the detriment of technocrats in handling key positions are dealt with.
Similarly, the PENGASSAN helmsman reiterated his call on Federal Government to ensure the use of qualified hands to man the electricity sector to forestall more collapse of National Grid in year 2025, adding it is absurd to employ politicians to man certain areas that needs technical people.
Furthermore, Osifo described the 2025 National Budget presented to National Assembly by President Bola Ahmed Tinubu as grossly inadequate considering the high rate of inflation and infrastructural deficits facing the nation.
According to Osifo, government should desist from over-burdening of the general masses that have already been pushed to the wall. Revenue expansion should not be based on taxes thereby putting additional burden on the people that have already been pushed to the wall by the hard economic downturn.
“Why should government base revenue expansion on tax alone when we have many natural resources that are yet to be tapped. Government should invest in tapping other natural resources and focus less on Tax payment.
“This 2025 budget will not be able to take care of many social infrastructures that are in dare needs of attention.
We are calling on Federal Government for revenue based expansion that can be achieved by tapping the natural resources rather than tax.”
Osifo attributing the high pump prices of petrol to the weak Naira to the dollarised economy, reiterated that the oil and gas sector operates predominantly in US dollars.
“If the Naira appreciates, Nigerians can expect a significant reduction in petrol prices,” he said.
He pointed out that the pricing of crude oil allocated to local refineries, such as the Dangote refinery, is pegged to international benchmarks, which are dollar-based.
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