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Labour Ready for War, to Shut Nigeria over Sale of National Assets
Nigeria Labour Congress (NLC); Trade Union Congress of Nigeria (TUC); the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG); and Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), so-called organised labour, said that they will shut down Nigeria if the federal government go ahead to sell national assets.
According to them, the revolt and civil unrest will be worse than the anti-SAP riots of 1989.
But, Mr. Femi Adesina, spokesman to the President in a reply to the text message sent to him by the Vanguard, said “no comment.”
NUPENG and PENGASSAN have however threatened to shut Nigeria over the planned sale, which they argued, would not profit the nation but a few privileged Nigerians.
According to PENGASSAN, the planned sale of national assets is a self-destructive move that would further impoverish Nigerians.
The union said the plan, meant to solve short term financial obligations, was targeted at handing over Nigerians’ collective commonwealth to a few individuals and further impoverish the rest of the people.
According to the Vanguard, PENGASSAN, advised that instead of selling assets, government should look for other ways of increasing the revenue base of the country, while plugging loopholes and leakages in public finances.
PENGASSAN noted that governments at all levels should reflate the economy through execution of capital projects and payment of workers’ salaries.
It stated: “Any attempt to sell these national assets will be met with stiff resistance from the Association, as PENGASSAN will galvanize every support, including that of our sister union and labour centres, to shut down this country by ensuring that every activity in the oil and gas sector is brought to a complete halt.
“Some opportunists in the cloak of businessmen and short-sighted politicians had earlier advocated the sale of public assets such as the NLNG, four state-owned refineries, Nigeria’s stakes in Africa Finance Corporation, AFC, the nation’s airports and reduction of government’s shares in upstream oil joint venture operations and this was approved by the National Economic Council, NEC.”
Comrade Emmanuel Ojugbana, PENGASSAN national public relations officer, said such sales would further compound the economic and security problems in Nigeria.
He expressed surprise as to why anybody would plan to sell the assets, such as the NLNG and shares in the upstream oil and gas JV operations, which had been generating revenue for the country to date.
But Udoma Udo Udoma, minister of budget and planning, said in a statement on Saturday that the Federal Government would not sell critical national assets to shore up its foreign reserves as well as have funds to retool the economy against the current downward plunge.
According to him, government plans to source immediate funds to reflate the economy and implement capital projects in the 2016 budget.
Elsewhere, NUPENG, said: “We will resist the sale with all our might. It is not in the best interest of Nigerians. It will only compound the unemployment in the country. It will also compound the restiveness and agitation in the Niger Delta. There is no way we are going to accept it. If the President is really a patriot as claimed, he should not yield to the pressure because enemies of the country are at work.
Mr. Joseph Ogbebor, general secretary, NUPENG said that “However, our organs will meet either as NUPENG or jointly with PENGASSAN to deal with it. Certainly, it is unacceptable, unpatriotic, anti-Nigeria and must be rejected and resisted by all. We call on Mr. President to declare a state of emergency on the economy and summon an all-encompassing stakeholders meeting to brainstorm on how the present economic challenges can be quickly addressed. “NUPENG is of the view that Nigeria is a big market and certain measures should be put in place to reflate the economy so that it will be an investors’ destination.”
NUPENG also said it was disturbed and worried about the drop in oil production, occasioned by the bombing of oil and power installations in the Niger Delta.
On its part, NLC through, Joe Ajaero, factional president, said the battle would be to save President Buhari from economic hawks, who were out to bring the government down, noting the President meant well for the nation.
He said: “The nation’s assets do not belong to the National Economic Council. Some of them were not born when these assets were set up. For members to approve the sale is just being prodigal. I cannot remember any of the assets in question that was set up by them.
“They cannot tell us, Nigerian people, whose taxes were used to set up these assets, that whatever they say, we must obey them. They did not consult and they seem not to realise how it is pinching us. The question you should ask them is of all the national assets sold, how much did they make from them?
”How much did government make from the sale of PHCN? How much did government make from the sale of NITEL? How much was the proceed from Nigerian Airways? What impact did sale of those assets have on Nigerians?
“If they have their security report, they should know this is not the time to toy with things like these because Nigerians are angry and they are prepared to vent their anger on the oppressors.
“I will advise these people to play back what happened during the anti-SAP riots. The way we are going to resist this one will be worse than the anti-SAP crisis.
The problem is that these people are not connected with the people.” We’ll resist it — TUC Also declaring its opposition,
TUC, through Simeso Amachree, acting secretary general, said: “We are not going to accept it and we will resist appropriately. As it was done before, it is an attempt to take over the national assets. “Like we stated earlier, the idea should be dropped or they will incur the wrath of workers. “It is our thinking that if those clamouring for the sales pay their appropriate taxes, there would be enough money to bring the country out of the woods without sacrificing our national assets.
“Truly, we appreciate the concern of some sincere people in government, especially President Muhammadu Buhari, who is working tirelessly to fix the economy. But we get worried when people suggest we sell investments like NLNG which provided the money for the bailout of states when they could not pay salaries or concession our airports. On what grounds?
“The Congress will mobilise and resist any further sale or concession of our national assets under whatever guise.”
For a business to remain strong and relevant, experts have urged entrepreneurs to engage in solving problems in the Micro, Small, Medium Enterprises (MSMEs) space and build strong partnerships.
The experts stated at the United Bank for Africa (UBA) Business Series with the theme, “Stronger Together: Building Powerful Business Partnerships for Progress.”
Four seasoned business owners including: Beauty Entrepreneur, Dabota Lawson; Real Estate Mogul and Entrepreneur, Wale Ayilara; Journalist and TV producer Peace Hyde and Fashion Entrepreneur, Mai Atafo, encouraged participants to solve problems, invent in products & service and, create value to remain stronger in business and thrive amid competitive business environment.
Ayilara expressed that an entrepreneur must be able to solve problems and build a strong partnership in order to remain relevant in a challenging business environment.
He stressed further that there are a lot of business opportunities in Nigeria and questioned where consumers money is directed into.
Lawson said the inability to find a suitable sensitive skincare that matches her skin tone forced her to start her company.
On her part, Hyde stated that she ventures into media on the backdrop of telling Africa’s stories to international audiences.
Atafo said passion made him venture into fashion, maintaining that being an entrepreneur in Nigeria is tough work.
Speaking earlier, UBA’s Group Head, Retail and Digital Banking, Shamsideen Fashola, highlighted the critical role of partnerships in today’s dynamic business environment.
“In an increasingly interconnected world, the power of collaboration cannot be overstated. At UBA, we recognise that collaboration is the cornerstone of sustainable business success.
“The ‘Stronger Together’ Business Series is designed to inspire entrepreneurs and corporate leaders to forge meaningful alliances that drive progress, unlock opportunities, and contribute to Africa’s economic transformation,” Shamsideen said.
Nigeria’s leading commercial bank, First Bank of Nigeria, has joined forces with Mighty Media Plus Network Limited for the maiden edition of the QEDNG Creative Powerhouse Summit.
Also supporting the event are Nigeria LNG (NLNG) and Shell Nigeria, two major players in the country’s energy and development sectors.
Chief Executive Officer of Mighty Media Plus Network Limited, Olumide Iyanda, announced the partnerships in a statement on Monday.
Mr Iyanda described FirstBank’s involvement as a strong statement of the bank’s belief in the power of Nigeria’s creative sector.
“FirstBank’s support is a reaffirmation of its long-standing commitment to promoting the creative economy,” he said. “Through First@arts, the bank has become a reliable partner to talents, institutions, and organisations working to grow Nigeria’s cultural assets.”
First@arts is FirstBank’s platform for supporting the arts. It provides financing, advisory services, and exposure for creatives across the value chain. The bank has backed major cultural events and partnered with institutions such as British Council, Duke of Shomolu Productions, Live Theatre Lagos, Freedom Park and Terra Kulture.
Among the projects FirstBank has supported are The Headies Awards, Lagos International Theatre Festival, The Oxymoron of Kenny Blaq, Kurunmi, Eni Ogun, and Oke Langbodo.
Iyanda also praised NLNG for its role in promoting excellence in literature and science through The Nigeria Prize for Literature, The Nigeria Prize for Science, and The Nigeria Prize for Literary Criticism.
“NLNG has shown leadership by rewarding creativity and innovation in ways that impact both the literary and scientific communities,” he said.
The prizes, worth up to USD100,000, are among the most prestigious on the continent. They celebrate Nigerian authors, critics, and scientists whose work makes a real difference.
Shell’s support for the summit reflects its ongoing commitment to education and social development. The company focuses on sustainable, community-driven educational projects, ranging from scholarships to infrastructure development and ICT donations.
“Shell’s belief in education as a foundation for long-term progress aligns with our vision for the summit,” Iyanda added.
He further noted that more sponsors will be unveiled in the coming weeks.
The QEDNG Creative Powerhouse Summit, themed “Financing as Catalyst for a Thriving Creative Economy,” will take place on Tuesday, August 12, 2025, at 10:00 a.m. The venue is the prestigious Radisson Blu Hotel, Isaac John Street, Ikeja GRA, Lagos.
The summit will bring together creatives, investors, policymakers, and business leaders to explore solutions to the funding challenges facing Nigeria’s creative industries.
Economic and Financial Crimes Commission (EFCC) has strongly denied allegations of lack of integrity and transparency directed at its chairman, Ola Olukoyede, by columnist Steve Osuji.
In a statement issued by Dele Oyewale, spokesperson, EFCC. the commission described the claims as “worrisome and unjustifiable,” particularly criticizing the personal attacks on Olukoyede.
“More worrisome was his attack on Olukoyede for no justifiable reason. Allegations of lack of transparency, accountability and integrity deficit are wild and clearly off the mark,” Oyewale said.
He questioned the basis for the allegations and defended Olukoyede’s leadership since taking office.
“The question is: in what way has Olukoyede fallen short? Is it by insisting that the right things should always be done? By moving the nation’s anti-graft war forward radically and unprecedentedly?
“By bringing forth a preventive framework to tackle corruption and reaping bountiful gains for the nation?
“By recovering the globally-acclaimed 753 duplexes and other apartments, which are proceeds of fraudulent dealings for the nation?
“By launching the EFCC into a global map of accomplished anti-graft agencies? By handling 50,000 case files in one year?
“By embarking on a courageous internal cleansing system and other progressive initiatives to deepen and strengthen the anti-corruption fight?
“It is cowardly and uncharitable for any columnist to hide under vague and opaque cover to splash mud on Ola Olukoyede, arguably one of the finest breed of anti-graft czars around the world.”
Olukoyede, through the statement, reaffirmed that the EFCC has consistently submitted its annual reports to the National Assembly as required by law.
“Equally preposterous are claims of re-looting of assets by officers of the Commission. For the purpose of clarification, the Commission does not recover monetary assets into its covers and the non-monetary assets that are recovered are disposed of following clear pronouncements by court and proceeds paid into the Confiscated and Forfeited Properties Account account in the Central Bank in line with provisions of the Proceeds of Crime (Recovery and Management) Act, 2022.
“The EFCC does not operate in secrecy. All its operations are regularly communicated to the public, including public auction of assets. To deliberately cast the Commission in the mould of fraudulent engagements or criminality is not only mischievous but also untenable,” the statement concluded.
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