FG to track petrol consumption

The Petroleum Equalisation Fund (PEF) says its Sensor Monitoring Project will help to track the quantity of petrol consumed in the country.

The PEF Executive Secretary, Ahmed Bobboi, disclosed this while addressing reporters on Tuesday in Abuja.

He said that the adoption of the monitoring mechanism was the outcome of the project embarked upon after a study to determine the technology gap assessment of its operations.

He added that PEF did the project in collaboration with other agencies in the petroleum industry.

According to him, the project will address the diversion of petroleum products and provide consumption data to critical agencies of government to help in economic planning.

“Up to today, it is difficult to determine the actual quantity of fuel consumed in this country. Different agencies give you different figures and I think it is not tidy. With the introduction of the Sensor Monitoring project, we believe it would serve to answer all the questions.

“The project for the Sensor Monitoring which was approved by the Federal Executive Council was supposed to last for three years, but work has already started.

“Work has started, some of the equipment we are going to use, such as the ICT equipment are being produced now; the contractor has already mobilised on site, work has started already.

“The question is when do we begin to see the effect? By six months, we would begin to feel something, at the end of one year, we would begin to see something. Maybe before the end of this year, we would begin to see some of the landmarks of this project,” he said

He noted that the Fund had planned to commence equalisation of petroleum products through the railway but was suspended due to the proposed policies of the Federal Government.

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