WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2010-11-29 Time: 15:00:02 Posted By: News Poster
By Sylvester Enoghase
Oil workers under the aegis of the Nigerian Union of Petroleum and Natural Gas Workers/ Petroleum and Natural Gas Senior Staff Association of Nigeria (NUPENGASSAN), have called on the Federal Government to grant special financial bail out to the indigenous operators in the downstream sector of the oil and gas industry to enable them contend with the challenges staring at business prospects at the supply end of petroleum products.
The workers also declared that the bailout should be granted as part of the pre-conditions to the phased removal of subsidy on petroleum products.
PENGASSAN’s President, Babatunde Ogun, while briefing newsmen on the fresh call by workers for the Federal Government to bailout operators in the sector explained that since government has considered salvaging other sectors of the economy, the oil and gas sector which serves as the mainstay of the nation’s economy also needs to be saved.
He said the bailout should be granted to the operators as soft loan with special interest rate and moratorium, adding that the government should perform its socio-economic obligation to save Nigerians from the ugly experience of perennial fuel scarcity.
“If the indigenous operators were not supported financially, it could spell doom for the deregulation policy of the government,” he warned.
He also explained that the bailout will engender required competitive ability among the multinationals and the indigenous operators.
Ogun, who noted that petroleum products remain a very vital source of power generation in Nigeria, said that every excuse that was ever adduced by any administration for the hardship that the people experience in sourcing fuel and gas has been as topical, volatile and sensitive.
The union president said, “Our position as PENGASSAN from the above standpoint is that the government needs to direct as a matter of special circumstance, a relaxed monetary policy decision for the downstream players at this crucial moment. The Central Bank of Nigerian (CBN) needs to be tasked by the Federal Executive Council (FEC) to provide soft loan with special interest rate and good moratorium to the petroleum marketers.”
Another unionist, Igwe Achese, said that the government had initiated and sustained several policies and legislative supports to assuage the suffering associated with fuel shortage, as a way of checking hiccup in the supply chain of the products, which could serve as major setback to the nation’s growth and development.
He stated that while the two unions, PENGASSAN and NUPENG, after serious appraisal of various economic scenarios have eventually agreed to consider the need to embrace government’s policy of downstream oil and gas liberalisation and phased deregulation, it must be emphasised that if the bailout is not considered, chances are that the downstream players shall be tempted to compromise not only petroleum products pricing but also the products’ quality control and assurances notwithstanding the negative impacts on the human, marine and vegetation lives as well as the general ecology in the country.
General Secretary of PENGASSAN, Bayo Olowoshile, noted that the fact that the government has severally tried but failed to run an efficient midstream and downstream oil and gas sector, is enough indicator that it should not expect the private sectors that were invited overnight to have the magic wand and required wherewithal to sustain the continued availability of petroleum products to every nooks and crannies of the country at the anticipated reasonable prices and assured product quality.
“This statement is without prejudice. The success of downstream is any country depends on the state of basic infrastructure and other enabling laws, frameworks and environment. We should not be quick to forget that the Nigerian National Petroleum Corporation (NNPC) that for long monopolised the downstream sector of the oil and gas market has to also canvass for the attraction of private investors when it became over-burdened and by the ever increasing petroleum products supply-demand capacity.
Original date published: 28 November 2010
Source: http://allafrica.com/stories/201011290804.html?viewall=1