The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has raised a critical alarm over the worsening economic conditions facing Nigerian workers, warning of an impending exodus of skilled professionals from the vital oil and gas sector. The union's President, Comrade Festus Osifo, issued this stark warning in Abuja on Monday, December 23, 2025, following the association's National Executive Council (NEC) meeting.
Stagnant Wages Amid Soaring Inflation
Osifo painted a grim picture of the current reality for many employees, stating that the festive season would be bleak due to the unrelenting high cost of living. He highlighted that while the prices of essential food items like rice, beans, garri, tomatoes, and pepper have seen a marginal decrease in recent weeks, workers' salaries have remained completely stagnant. This has rendered incomes grossly inadequate for covering basic necessities.
The primary culprit, according to Osifo, is the high exchange rate, which continues to drive food and core inflation. He expressed deep skepticism about official economic statistics, noting a disconnect between reported figures and market realities. "Inflation numbers are coming down, but in the market, prices are not coming down. With N100,000, what you bring out is almost next to nothing," he lamented.
Imminent Brain Drain Crisis in Oil & Gas
The PENGASSAN leader delivered a particularly grave warning about the future of Nigeria's oil and gas industry. He declared that the sector is teetering on the brink of a severe talent hemorrhage, which could cripple its operational capacity and global competitiveness.
Osifo explained that the continuous devaluation of the Naira makes Nigerian oil and gas professionals highly attractive to international markets. "Our skills are unique and required everywhere in the world. A drilling engineer in Nigeria is doing the same job as a drilling engineer in the United States or Abu Dhabi," he stated. He fears that the brain drain witnessed in other sectors will pale in comparison to what is about to hit the petroleum industry if wages are not urgently reviewed to match the economic downturn.
He accused some oil and gas companies of deliberately delaying wage negotiations despite the severe impact of inflation and currency devaluation on their employees' welfare. "Even with massive devaluation, some still don't want to fix the remuneration of our members. We are calling on them to do the needful. We will push without holding back," Osifo asserted.
Unresolved Issues and Advocacy Plans
On the ongoing dispute between oil and gas unions and the Dangote Refinery, Osifo confirmed that several issues remain pending. The NEC has resolved to pursue dialogue to conclusively resolve these matters, with a strong preference for settlement at the negotiation table.
Looking ahead, Osifo assured PENGASSAN members of intensified advocacy. The union plans to ramp up engagements with key government institutions including the Ministries of Finance, Petroleum Resources, and Labour. The goal is to push for policies that translate macroeconomic improvements into tangible relief for households and better working conditions for oil and gas workers in the coming year.
He urged closer coordination between the country's fiscal and monetary authorities to ensure that economic strategies actually benefit ordinary citizens.
