Devaluation: PENGASSAN warns of looming brain drain over poor pay
President, Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Comrade Festus Osifo, on Thursday warned that the persistent devaluation of the naira and the refusal of some oil companies to review salaries could trigger a major wave of brain drain in the industry.
Addressing journalists, at the end of the union’s National Executive Council meeting held in Abuja, Osifo said the skills possessed by Nigerian oil workers are globally competitive, noting that “When devaluation occurs, we realise that we must do everything possible to bridge the gap, otherwise, the brain drain that we have seen in some other sector would just be a child’s play.”
He added that their members can “with a click of a finger” leave the country to work anywhere in the world if their concerns are not addressed.
Osifo said the oil and gas workforce remains one of the most qualified talent pools in the country, insisting that the best hands require the best conditions of service.
He explained that the industry attracts highly skilled professionals, stressing that in some departments “if you have 200 staff, you’ll be surprised that you have nothing less than 50 or 60 first class.”
He said this is why companies must match the quality of workers with fair remuneration.
Explaining further, he noted that while many companies have made meaningful adjustments, a few are still delaying, even after the harsh impact of devaluation.
He said the union expects these firms to “do the needful” even as he threatened that PENGASSAN “will push without holding back” to secure improved welfare for its members.
Speaking on industrial relations, Osifo confirmed that issues at Dangote Refinery remain unresolved despite several engagements since the last National Industrial Action.
He said the NEC agreed to continue pushing for full resolution through dialogue, working closely with social partners to reach an agreement without confrontation.
Comrade Osifo stressed that the union prefers negotiated settlements, saying the aim is to resolve all pending matters “on the table” rather than return to moments of tension, adding that PENGASSAN would not hesitate to act if necessary but hopes ongoing conversations will close the outstanding disputes.
Speaking further, Osifo also faulted the government for failing to name or prosecute sponsors of terrorism, warning that insecurity has worsened in recent weeks.
He asked why officials repeatedly claim to know the backers of terrorists yet fail to expose them, saying, “Why haven’t you named these sponsors? Why haven’t you exposed these sponsors? Why haven’t you gone after them?”
He said Nigerians are tired of endless condemnations and one minute silences, urging the government to shift funds from nonessential sectors if needed to buy equipment for security operations.
The union stressed that no country can develop without safety, insisting that decentralised policing remains one of the most effective options.
On the issue of state police, the PENGASSAN President dismissed fears that it would be misused by politicians, noting that political elites constitute less than one percent of the population.
He asked why the interests of “less than 0.1%” should outweigh the safety of the remaining “99.9%” and called for a more serious approach to security reforms and international partnerships.
Osifo expressed worry about rising kidnappings and school closures in the North, calling it unacceptable that children preparing for examinations are trapped at home due to fear.
He said the primary role of government is to protect lives and property, adding that “the time of rhetorics is over” and insisting that “the government must act decisively, and the time to act is now.”
He also highlighted economic hardship, noting that falling inflation figures have not translated to lower market prices.
He said farmers must be supported to return to their fields to boost food supply and argued that government policies must link macroeconomic gains with real household relief.
Osifo said PENGASSAN will follow up all resolutions reached at the meeting with relevant agencies to ensure better living conditions for members and Nigerians.
