• Nigerian oil unions reject plan to sell NNPC JV assets
• Say divestment threatens revenue, jobs, and sector stability
• Unions warn of possible action; government yet to respond

Nigerian oil unions are strongly opposing a federal government proposal to sell off portions of its joint venture (JV) oil assets currently managed by the Nigerian National Petroleum Company Limited (NNPC Ltd).

The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN)—the two main unions in the sector—expressed their categorical rejection of the plan during a joint press conference held on Tuesday, Sept. 23.

The unions assert that the divestiture aims to reduce the government's stake in certain JVs to approximately 30% to 35%, down from the current estimated level of 55% to 60%.

“Government is wanting to reduce its stake in these assets, principally, they want to sell some huge percentages in these assets. In some places, sell up 35 percent, in some places sell up 30 percent, so that they will have some cash to spend in other areas,” Festus Osifo, President of PENGASSAN, told reporters during the event.

Fundamentally, the unions argue that executing this asset sale poses a direct threat to state revenue and the stability of NNPC Ltd, while also jeopardizing workers' salaries and benefits. They noted they have the support of the Nigeria Labour Congress (NLC), which has previously backed NUPENG's actions.

As of Sept. 26, local media have not reported any official response from the federal government, the Ministry of Finance, the Ministry of Petroleum, or NNPC Ltd. The situation remains tense, with the unions threatening action, raising the risk of disruptions in the oil sector if a compromise is not reached.

Abdel-Latif Boureima