Success Nwogu 
President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Comrade Festus Osifo, has said that some companies in the oil and gas sector have implemented nearly 300 per cent salary increments while many others have implemented above 200 per cent wage rise.
He said that the union’s agitation for fair wage in the sector was in response to rising inflation, naira devaluation and economic challenges faced by Nigerian workers, particularly in the oil and gas industry.
He stated that since inflation rose high, the union has been carrying out Collective Bargaining Agreement (CBA) negotiations across board with tangible results.
He spoke while addressing delegates at the 2025 PENGASSAN Women Annual Convention (PWAC) held in Abuja. Osifo said: “Since this inflation came, since this inflation started, we’ve been doing CBA negotiations across board and there have been tremendous response we’ve had since 2023, we have some companies in PENGASSAN that have done close to 300% salary increment.
“So, it’s been success stories from one branch to another, from one company to another. So, the response or the push that we have given to the management in oil and gas company is second to none. And we’ll continuously do that.
“So for us in PENGASSAN, we are not even talking about N70,000 naira, we are talking about the effect of devaluation.” He said President Bola Tinubu administration’s economic performance in two years had been a mixed bag.
According to him, while there has been modest gains in some sector there is widespread economic hardship for most Nigerians.
Osifo said: “It’s a mixed feeling, while macroeconomic policies may look promising on paper, their impact on household incomes, food prices, education and healthcare remain limited.”
