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‘We will shut down Nigeria if Federal Government sells National assets’ – PENGASSAN, TUC Threaten
Oil workers, under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria, have threatened to shut down the country should the Federal Government carry out its plan to sell national assets to augment revenue shortfall.
Also, the Trade Union Congress on Sunday said it would join PENGASSAN to shut down the country if the government remained adamant on its plan to sell some national assets.
PENGASSAN, in a statement on Sunday by its National Public Relations Officer, Mr. Emmanuel Ojugbana, said the government should look into other ways to increase its revenue base while plugging loopholes and leakages in government’s finances.
The union, which described the plan to sell the national assets as a self-destructive move for Nigeria, said, “The plan meant to solve short-term financial obligations is targeted at handing over our collective wealth to a few individuals and further impoverish the rest of our countrymen and women.”
It said government at all levels should pump money into the economy through the execution of capital projects and payment of workers’ salaries to revive the economy.
PENGASSAN said it would not sit back and watch the sale of national assets, especially those in the oil and gas industry, such as the Nigeria LNG that had become a huge revenue-earner for Nigeria; refineries and shares in the upstream oil and gas JV operations being shared among those in power and their cronies.
It said, “Any attempt to sell these national assets will be met with stiff resistance from the association, as PENGASSAN will galvanise every support, including that of our sister union and labour centres to shut down this country by ensuring that every activity in the oil and gas sector is brought to a complete halt.
“Some opportunists in the clothes of businessmen and short-sighted politicians had earlier advocated the sale of public assets such as the NLNG, four state-owned refineries, Nigeria’s stakes in the Africa Finance Corporation, the nation’s airports and reduction of government’s shares in upstream oil joint venture operations and this was approved by the National Economic Council.”
Reacting to the recent approval of the sale of the national assets by the NEC, Ojugbana said the sale of the assets would further compound the economic and security problems in the country.
He added, “They should tell us what will happen after the recession if we have sold the assets to greedy individuals. Will the country go cap in hand begging those individuals who bought the assets and borrowing from them?”
He said the plan “is ill-timed and unwarranted as it does not serve national interest,” adding that no nation could develop, survive or feel secure after selling all its national assets.”
PENGASSAN stated, “Doing this will further mortgage the future of our great country in the hands of few cabals. These individuals are just looking for advantage to further loot the country through illegal acquisition of the national assets as in the case of various oil blocks held by a few powerful Nigerians.
“The sale of national assets is not only surprising but also embarrassing for a nation experiencing economic recession. The proponents of the sale of national assets are those who have been actively involved in the operations of the nation’s economy in the past. They were part of those responsible for the country’s current economic situation.”
According to him, such sales in the past, including the power and steel sectors privatisation, are just a shift from public monopoly to private monopoly, which has further worsen those sectors.
“It is, therefore, the candid position of PENGASSAN that such a plan should be thrown into the trash bin. Government should continue to seek better ways to address the present economic challenges and reduce areas of wastage. The long overdue calls for diversification of the economy should be driven with all seriousness; more action is required urgently than propaganda mechanism,” he said.
The President of the TUC, Mr. Bala Kaigama, said on the telephone on Sunday that the Congress would collaborate with the two major unions in the oil sector because the planned sale of the assets was flawed.
He noted that if those who invested in the assets had sold them, the current administration would not have met them.
Kaigama said, “We will solidarise with them. You cannot sell vital assets like that. You don’t. If those who invested in the assets had sold them, would they have met them?
“Of course, these business people, who are saying sell and sell, let them pay the appropriate taxes. Those people who are not paying the appropriate taxes, let them pay the appropriate taxes and money will accrue to the Federal Government.
“TUC will solidarise with NUPENG and PENGASSAN to shut down the country.”
The Nigeria Labour Congress, on its own, said while it would take necessary steps on the issue, it had not taken the decision to shut down the country.
The General Secretary of the NLC, Dr. Peter Ozo-Eson, stated on Sunday that the congress would inform Nigerians when the decision was taken.
Ozo-Eson added, “No. We are a democratic organ; we have our processes. We have not taken a decision; when we take a decision, we will let the country know.
“If individual unions have announced, we have no quarrel with that. We are opposed to it (assets sale) and we will take the necessary steps. We have not yet taken that decision of shutting down the country or whatever. We will inform the nation when we take that decision.”
Selling national assets signifies panic, says don, activist
Also, a frontline economist and Executive Chairman, African Centre for Shared Development Capacity Building, Prof. Olu Ajakaiye, has said selling national assets because of the current economic recession in the country will amount to taking a panicky measure.
In an interview with one of our correspondents on Sunday, Ajakaiye said rather than selling national assets in a hurry, the government should undertake a comprehensive study of the funding gaps required to bail the nation out of recession in order to determine the best step possible.
He stated, “The highly publicised Medium Term Expenditure Framework and similar basically financial programming tools do not contain specific screened, selected and prioritised projects and programmes to which Nigerians can relate. Resource gap determined from such tools can be dangerously misdirecting and can create unnecessary panic. Sale of assets in a panic situation like was done carelessly during the late 1980s should not be repeated.
“If the resource gap includes recurrent, sale of assets to close such gap will be inappropriate because it is tantamount to consuming capital and that will be irresponsible. Moreover, what happens when the proceeds of the sale is exhausted? What are we going to sell to pay the next salary, for example?
“If the resource gap is exclusively due to bona fide capital projects that have been properly screened, selected and ranked in order of priority based on their direct and indirect contributions to national development goals, alternative financing options should be carefully considered. The first step is to surgically consider cutting excesses and illegitimate as well as unreasonable components of recurrent expenditure.”
Ajakaiye said the personnel cost component of government should be cleaned up by sustaining and generalising ongoing application of technology to eliminate all forms of impurities in the system including ‘ghost’ workers.
He argued that no attempt should be made to retrench workers, saying this would be inconsistent with the goal of reducing unemployment and legitimately reflating the economy.
He added that salaries and allowances of political and public office holders should be drastically reviewed downwards.
Ajakaiye said, “This is consistent with the slogan of Change Begins With Me. Change should begin with those at the top. The Revenue Mobilisation, Allocation and Fiscal Commission should quickly propose such reductions so as to make it mandatory. Very few political and public office holders followed the example of the President and Vice-President because it is optional.”
A civil rights activist, Imma Okochua, said savings from the removal of petrol subsidy as well as monies recovered from looted public funds should be used to fund gaps in government resources.
He said, “If the recession was caused by the fall in oil price and especially by the reduced production and exportation due to militancy, why don’t you solve the militancy problem? Is it impossible to solve?
“When you have sold our national assets and we have consumed the proceeds, or the government has squandered it, and oil prices remain low and the militants remain undefeated or persuaded, what will the government do? Will they sell us to the highest bidder?”
He urged the government to ensure that it made effective use of the N50 stamp duty it was collecting from payments into current accounts.
NNPCL and Corruption’s Final Throes
By Pius Olasanmi
In the twilight of the Obasanjo administration, when Nigerians were still capable of being outraged, when Turn Around Maintenance (TAM) of refineries was a buzzword that still held some mysticism to bamboozle citizens, during a conversation, a certain man said something profound. The man said, “As a businessman, if I were the owner of these refineries, knowing that they are three decades old, I would take the last money I have, hire bulldozers, raze them to the ground, and obtain loans to build new ones.”
When we pressed him further on why he would engage in such waste, he explained that repairing the refineries is the real waste. He explained that even if the TAM were honestly carried out, a thirty-year-old refinery would never compete favourably with a new one that would integrate contemporary technology. Operating at its best, such a refinery would never be comparatively more efficient. It is therefore pointless to have spent another one naira on the refineries at that point.
A few months later, I had a conversation with a then-lawmaker on an entirely different matter. I mentioned that the National Assembly has failed by not crafting legislation that would criminalise and punish public office holders who foist wrong decisions on the country. The logic: a public office holder need not steal to be punished, wrong decisions should attract penalties for an office holder who opts for the worst of all options when there are less injurious ones.
These established premises speak to the ongoing nauseating efforts at revisionism by those who wrecked the Nigerian National Petroleum Company Limited (NNPCL) and its previous iteration, the Nigerian National Petroleum Corporation (NNPC). Notably, this campaign to rewrite history is traceable to Engineer Mele Kolo Kyari, the disgraced immediate past Chief Executive Officer of NNPCL and his hirelings. They have suffocated the news and the public opinion space with even more lies than they spun while in office.
The Saint Kyari campaign is anchored on convincing Nigerians that the Port Harcourt, Warri and Kaduna Refineries were fully functional when he was booted out of office. So brazen is the campaign that one of its talking heads challenged the group chief executive officer (GCEO), Engr. Bayo Ojulari, to “inform Nigerians categorically what happened to the functioning refineries he inherited from his predecessor, Engr. Mele Kyari.” The effrontery.
We have not forgotten so soon the charade that followed the baffling claim that Nigeria has spent $2.8 billion on the repair of the refineries, while they are not churning out even a single litre of refined product among them. Saint Kyari and his goons played all manner of tricks, all of which embarrassed President Bola Tinubu, who had counted on ticking off the return to productivity of the refineries as part of his achievements, only to realise that he was deceived into celebrating phantoms. Tragic.
Lest we forget, 200 trucks were arranged as props in a well-directed video clip to celebrate the re-streaming of the Port Harcourt Refinery. The disappointment. Nigerians were to learn from several reports that the Port Harcourt refinery was not producing and was instead using old, stored petroleum products to load trucks. Worse still, the Kyari crew was passing off sanction-tainted Russian-sourced crude oil refined in Malta as locally refined products. More insult was piled on the assault on our collective sensibility with the lies that the Port Harcourt Refinery exported semi-finished products. Brazen.
Meanwhile, Kyari and his hirelings called those who pointed out or protested these glaring scams all manner of names. They hid behind industry technicalities and jargon to create the impression that those of us who knew Nigerians were being robbed did not understand what we were saying. The point remains that a $2.8 billion investment can potentially build a refinery with a capacity of around 100,000 barrels per day (bpd). Of course, the actual capacity of such a refinery will depend on various factors, including the complexity of the refinery, the technology used, and the location. That is the amount that Kyari’s regime at the NNPCL took and did not give Nigerians refined products.
Fast forward to Kyari’s sack and the appointment of Engineer Bayo Ojulari, who has demonstrated that things can indeed be done differently. Kyari’s exit was expectedly followed by the Economic and Financial Crimes Commission (EFCC) going after him and his associates. The extent of the theft is better understood against the backdrop of N80 billion being found in the bank account of one of his associates. They went on the run.
Perhaps because the EFCC was biding its time on securing international warrants for the arrests of these characters on the lam, they have become emboldened. They have decided to fight back and rewrite the story of their participation in the greatest fraud against Nigerians. Engineer Ojulari’s renewed mindset, which is entrenching a semblance of the transparency Nigerians demand, became their natural target. The demons that once roamed around the corporation came out with malevolence. They started spinning stories of corruption to tarnish the incumbent who refused to hide their crimes. The objective: bring Ojulari down. But alas, he is winning the war as it stands.
His innocence is proven, and it is glaring that those who want him out are mere charlatans who can no longer ply their corrupt wares because of the impact of the new reforms. Corruption in the NNPCL is in its final throes. The fake news being unleashed against the incumbent leadership is akin to corruption’s last kicks as reforms in the sector strangulate it and its practitioners. The reforms must take place in the NNPCL, whether the industry demons like it or not.
As a parting shot, Kyari and his associates would do well to prepare their defence. In addition to accounting for the $2.8 billion they laundered in the name of repairing the moribund refineries, they must also answer for the poor decision to fix that which is irretrievably broken. Awarding contracts for Turn Around Maintenance of 59-year-old refineries that a right-thinking person had suggested should be demolished almost twenty years ago, when they were only 30 years old, is criminal. Trying to deceive Nigerians that the fake repairs worked is treason.
Olasanmi is a public affairs analyst writing from Lagos.
GRANDIS 5STAR LUXURY APARTMENT & SUITES SET TO REDEFINE LIVING IN VICTORIA ISLAND
Set to Rise elegantly against the Lagos skyline, is the Grandis 5Star Luxury Apartment & Suites. According to Adejuwon Ademola, The General Manager of the Development company, it is more than just a residential building
“it’s a lifestyle statement. Standing 17 floors high in the heart of Victoria Island, this revolutionary masterpiece of modern architecture will offer a panoramic 360° view of Eko Atlantic, Victoria Island, and Ikoyi, transforming every apartment into an exclusive penthouse experience for the world’s most discerning elite.”
Developed by Dumarco Construction Limited, a globally acclaimed company with decades of delivering complex, high-value projects in the highly regulated petroleum, oil, and gas industries, Grandis 5Star brings unmatched international safety standards, uncompromising quality, and timeless elegance into Nigeria’s luxury property market.
> “When you live in Grandis, you’re not just buying a home—you’re investing in peace of mind, world-class safety, and an effortless luxury experience that will remain pristine for decades,” says Adejuwon A. Ademola, General Manager of Dumarco Construction Limited.
The Gold Standard in Safety and Quality
Dumarco’s roots in the oil and gas sector mean the company operates to some of the strictest safety protocols in the world. Every stage—from conceptualization, design, construction, to long-term maintenance—follows internationally accepted procedures and quality assurance measures. Cutting corners is simply not in Dumarco’s vocabulary.
> “In the oil and gas industry, there’s no room for compromise. We’ve brought that same discipline and zero-tolerance for mediocrity into property development,” says Ademola. “That’s why Grandis will be one of the safest and most enduring residential developments in Nigeria.”
To ensure transparency and prevent (project complacency), Dumarco deliberately separates the developer, contractor, and consultant roles, engaging only the most competent professionals in each respective field. Dumarco’s project team includes globally recognized contractors such as Julius Berger, Cappa & D’Alberto, and Elalan, Migliore Construczione & Tecniche (MC&T) and their partners VENCO IMTIAZ CONTRACTING COMPANY (VICC) based in Dubai, UAE, Business Contracting Limited, alongside leading consultants like Morgan Omanitan & Abe, LAMBERT, and James Cubitt.
Grandis – Investments, appreciation, returns and profitability
Our selection process for the location of the project alone was pains-taking and completely thorough scientific process. Top professional companies were employed to conduct a scientific data acquisition and analytical survey of the entire Victoria Island, Ikoyi, Lekki and Eko Atlantic before a project site is selected. Analyzing and acquiring areas developmental charts and trends, studying and gathering historical and present sale prices, rental charge and occupancy rates over a 50 year period from every individual street before the selection of the location of any of our developments especially true for the Grandis Project
He adds,
“Our clients and residents can be rest assured that the location of Grandis has been scientifically proven through all existing data to provide our clients with a 100% occupancy rate, highest developmental location, highest rental income and investment returns. ”
The Grandis Experience
Located minutes away from international corporate headquarters, embassies, and landmarks such as Eko Hotel, Radisson Blu, and the Radisson Red, Grandis offers unmatched convenience for professionals, diplomats, and high-net-worth individuals. Every residence is designed for both indulgence and efficiency, with high-grade finishes, smart-home systems, and private amenities that ensure seamless living.
From sunrise over the Atlantic to the glittering Lagos night skyline, residents will enjoy uninterrupted luxury, supported by discreet and highly trained staff, advanced security systems, and a design that prioritizes comfort and privacy.
> “We designed Grandis for people who want everything—security, elegance, convenience, and the assurance that their home will look as spectacular in 20 years as it does on day one,” Ademola notes.
A Legacy That Lasts
With its combination of visionary architecture, peerless safety, and meticulous maintenance planning, Grandis is built to remain iconic for generations. Thanks to Dumarco’s meticulous approach, the building’s service charges are expected to remain low while its value and appeal continue to appreciate over time.
In a market often marred by shortcuts and substandard practices, Mr Ademola says
Grandis stands as a beacon of what luxury living should be—safe, spectacular, and built to last.
“Grandis 5Star Luxury Apartment & Suites — Where safety meets sophistication, and every detail is designed for a life well-lived.”
He added
Website -www.dumarcoltd.com
Project website – www.26idowutaylor.com
Email [email protected]
Tel / WhatsApp +234 9077777883
GM – Adejuwon A. Ademola
celebrity radar - gossips
Nationwide Talent, One Broadcaster: Tinubu Picks Pedro, Bello, Din, Mohammed to Lead NTA
Tinubu Overhauls NTA Leadership: Media Powerhouse Rotimi Pedro Takes Helm as DG
President Bola Ahmed Tinubu has announced a major shake-up at the Nigerian Television Authority (NTA), appointing renowned media executive Rotimi Richard Pedro as the new Director-General in a move widely seen as a bold step toward modernising the state broadcaster.
Pedro, a Lagos native, brings nearly 30 years of expertise in broadcasting, sports rights, and marketing communications across Africa, the UK, and the Middle East. A trained entertainment and intellectual property lawyer, he also holds an MSc in Investment Management and Finance from City University Business School, London.
In 1995, Pedro founded Optima Sports Management International (OSMI), which rose to become one of Africa’s leading sports content providers—distributing premium events such as the English Premier League, UEFA Champions League, FIFA World Cup, and CAF competitions to audiences in over 40 countries.
His career highlights include top roles at Bloomberg Television Africa and Rapid Blue Format, as well as advisory work for FIFA, UEFA, Fremantle Media, and the African Union of Broadcasters (AUB). At the AUB, he was instrumental in securing exclusive pan-African free-to-air media rights for all CAF competitions.
Alongside Pedro’s appointment, Tinubu named Karimah Bello from Katsina State as Executive Director of Marketing, Stella Din from Plateau State as Executive Director of News, and Sophia Issa Mohammed from Adamawa State as Managing Director of NTA Enterprises Limited.
Industry insiders credit Pedro with building commercially viable broadcast platforms, driving sponsorship growth, and delivering world-class content to African audiences. His appointment marks one of the most significant leadership changes at NTA in years—signalling the government’s intent to strengthen the broadcaster’s competitiveness in a fast-evolving media landscape.
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