• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result

PENGASSAN To Investors: Don’t Buy Our Refineries Build Your Own

Nairametrics by Nairametrics
April 8, 2014
in Uncategorized
Share on FacebookShare on TwitterShare on Linkedin

The Petroleum and Natural Gas Senior Staff Association of Nigeria has advised private investors to concentrate on establishing their own refineries instead of focusing on buying the state-owned refineries.

Reacting to a comment credited to the Nigeria Employers Consultative Association, PENGASSAN argued that NECA members should build their own refineries instead of struggling to buy the existing ones.

Speaking in Lagos on Monday, the President, PENGASSAN, Mr. Babatunde Ogun, stated that the body was not completely against privatisation but would only support it when due process and due diligence were done on the national assets.

RelatedStories

Zabazaba oil field

Bullish momentum in Nigeria’s oil and gas Sector: Can the rally be sustained? 

October 5, 2024
Nigerian Stock Market sees red from start to finish, suffers N156 billion loss at last trading day of the week

Industrial goods sector suffers 13% drop in August, While Oil and Gas boosts market 

September 2, 2024

He argued that selling the refineries at their present state would amount to throwing them away to the buyers at give-away prices, adding that no nation could grow while selling its national assets.

Ogun said, “Why are NECA members afraid of competition? Why can’t they go and build their own refineries if they are interested in the downstream sector of the nation’s oil and gas industry? Why are they bent on buying existing refineries knowing full well that these refineries are national assets and that they will do little or nothing to make them work?

“We are not totally against privatisation but we are prepared to back the government using the Strategic Partnering Model, where core investors shall take the 51 per cent golden stake, while sector unions and workers shall join state governments and others to buy into the remaining 49 per cent.”

Source: Punch

Tags: News ReviewOIl and Gas News
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Related Posts

Zabazaba oil field
Blurb

Bullish momentum in Nigeria’s oil and gas Sector: Can the rally be sustained? 

October 5, 2024
Nigerian Stock Market sees red from start to finish, suffers N156 billion loss at last trading day of the week
Equities

Industrial goods sector suffers 13% drop in August, While Oil and Gas boosts market 

September 2, 2024
President Bola Ahmed Tinubu
Energy

President Tinubu to commission 3 main gas infrastructure projects by NNPC, others

May 3, 2024
NUPRC, Shell
Energy

FG offers to expedite approval of Shell, others exit from Nigeria if they pay for oil spill cleanup

May 3, 2024
Why young Nigerians must consider investing in local and foreign stock markets
Exclusives

Nigerian Stocks you can invest in, if you have N2 million in January 2024 

January 8, 2024
Developing countries may likely bear the brunt of OPEC’s oil production cuts – IEA
Energy

Oil and gas demand will peak before 2030 – McKinsey  

October 24, 2023
Next Post

ABC Transport Offers Youth Corpers N500 Discount, Opens Office in Ikorodu

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Crypto is now legit — Will Nigeria’s financial institutions adapt or burn? | Drinks & Mics ft Buchi Okoro
  • Top 10 Consumer Goods companies with the highest gains on the NGX in H1 2025 
  • The best selling cars of 2024 in Nigeria 

Follow us on social media:

Recent News

Crypto is now legit — Will Nigeria’s financial institutions adapt or burn? | Drinks & Mics ft Buchi Okoro

Crypto is now legit — Will Nigeria’s financial institutions adapt or burn? | Drinks & Mics ft Buchi Okoro

July 12, 2025
Consumer goods

Top 10 Consumer Goods companies with the highest gains on the NGX in H1 2025 

July 12, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics