{
  "id": 2025241,
  "title": "Regulatory issues threats to oil investment, others, says PENGASSAN",
  "url": "https://urgent.news/2026/08/19/regulatory-issues-threats-to-oil-investment-others-says-pengassan",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-19T22:24:50.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/regulatory-issues-threats-to-oil-investment-others-says-pengassan/"
  },
  "original_language": "en",
  "account": "The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has expressed concerns that regulatory uncertainty, overlapping mandates, and lengthy approval processes could deter fresh investments and slow down production growth in Nigeria's oil and gas sector. At the fifth PENGASSAN Energy and Labour Summit 2026 in Abuja, PENGASSAN President Festus Osifo warned of these issues during a summit aimed at strengthening regulatory frameworks for the sector's stability and growth. Osifo emphasized that the capital-intensive nature of the petroleum industry necessitates regulatory certainty for long-term investments. He criticized recent changes to the regulatory framework, such as the movement of fiscal provisions and the use of executive orders, which have created uncertainty. Osifo urged the government to streamline approval processes and utilize technology to reduce bottlenecks while maintaining safety and environmental standards. He also demanded stronger protection for workers affected by industry changes and criticized the abuse of expatriate quotas, calling for stricter enforcement to ensure foreign workers only fill genuine skill gaps.",
  "summary": "PENGASSAN warns that regulatory uncertainty and lengthy approval processes threaten fresh oil investment and production growth in Nigeria’s oil and gas ind Read More: https://punchng.com/regulatory-issues-threats-to-oil-investment-others-says-pengassan/",
  "key_points": [
    "Regulatory uncertainty threatens oil investment in Nigeria",
    "Overlapping mandates and lengthy approvals slow production growth",
    "PENGASSAN calls for streamlined processes and tech adoption"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "title": "Regulatory issues threats to oil investment, others, says PENGASSAN",
        "url": "https://urgent.news/2026/08/19/regulatory-issues-threats-to-oil-investment-others-says-pengassan-2028685",
        "published": "2026-08-19T22:44:50.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}