The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has advised the Federal Government to increase its stake in Dangote Refinery to 45 per cent from the current seven per cent.
Its President, Festus Osifo, made the call yesterday while presenting a communique and recommendations from the third edition of the “PENGASSAN Energy and Labour Summit” in Lagos to newsmen.
This, PENGASSAN said, is in order to foster product availability to meet local demand and ensure energy assurance and security for the citizens.
The union said the refineries should be modeled after the Nigerian Liquefied Natural Gas (NLNG), which appears to have been successful.
He said: “Ramping up efforts to make the Nation’s four refineries work; once operational, the government should divest majority shareholdings. And own at most 49per cent of the shareholding in the four refineries. Core investors will be brought in to take the 51per cent as applicable in NLNG.”
