Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments

he Petroleum and Natural Gas Senior Staff Association of Nigeria has demanded transparent pump pricing from the NMDPRA.
During a world press conference, PENGASSAN president Festus Osifo urged NMDPRA to enforce transparent pump pricing immediately.
He stated that despite lower crude oil prices, marketers still sell fuel between N850 and N900 per litre nationwide.

Mr Osifo said NMDPRA’s failure to perform oversight functions has led to inflated fuel costs for struggling Nigerians.
He emphasized the urgent need for a publicly accessible system to ensure uniform pricing across all fuel stations.
Without clear regulation, he warned that Nigerians would continue to suffer losses regardless of global oil price changes.

Osifo praised the federal government’s Executive Order supporting lower upstream oil and gas operational costs across Nigeria.
He explained that high costs of facility protection—land, sea, and offshore—deter international oil companies from investing.
Daily payments for multiple security vessels and crews significantly raise operational costs unlike in other producing countries.

Speaking on Nigeria’s refineries, Osifo called on the government to adopt PENGASSAN’s transparent pump pricing recommendations.
He reaffirmed support for the NLNG model, where government owns 49 percent and private firms own the controlling share.
The model, he said, ensures professional management and shields refineries from political interference stalling development for decades.

On labor issues, Osifo confirmed PENGASSAN has reached an agreement with Sterling Oil over expatriate staffing disputes.
He stressed that local workforce inclusion remains essential for national development and sustainable growth in Nigeria’s oil sector.
PENGASSAN maintains that enforcing transparent pump pricing will restore fairness, trust, and relief to long-suffering Nigerian consumers.

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