* Drop in petrol price not expected
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Tuesday expressed fears that some aspects of the Tax Reform Bills may negatively affect operations of the Nigeria Upstream Regulatory Commission (NUPRC) and the Nigeria Mid and Downstream Petroleum Regulatory Authority (NMDPRA).
PENGASSAN also told Nigerians not to expect any reduction in the prices of petroleum products despite the reactivation of the Port Harcourt refinery because of the weakness of the naira.
Speaking at the National Executive Council (NEC) meeting of PENGASSAN in Abuja, President of the association, Festus Osifo, demanded that the tax relief exemptions that is given to those earning minimum wage and business should be expanded to accommodate more people and companies in that category.
“Clarity must be provided regarding revenue collection processes from oil and gas companies as some provisions in the bill have the likelihood of negatively impacting our members in some of our major branches like Nigeria Upstream Regulatory Commission (NUPRC) and the Nigeria Mid and Downstream Petroleum Regulatory Authority (NMDPRA).
“We shall be participating actively in the public hearing where our position will be well articulated. We hereby call on the National Assembly to conduct a proper public hearing session where different views will be collated to amend the provisions in the bill and not just to tick the box.”
While the bill has gone through several debates in the National Assembly, PENGASSANcautioned the legislature against hurriedly passing the tax bill, without recourse to proper public hearing or effecting amendments where necessary.
There has been growing apprehension over the proposed tax reform bills currently before the National Assembly. While the North and some members of the Nigerian Governors Forum, NGF, have strongly opposed the bills, the presidency has insisted that the bills must pass through legislative processes for implementation because of the inherent benefits attached to them.
Osifo, who is also the President of the Trade Union Congress (TUC) of Nigeria, confirmed the functionality of the Port Harcourt Refinery, insisting that PENGASSAN members were part of the team that ensured it was revived.
Osifo’s reaction followed insinuations that the refinery was not fully operational few days after its much-celebrated commencement of production.
No Comments