The Executive Secretary, Petroleum Equalisation Fund (PEF), Alhaji Bobboi disclosed that agency now monitors the movement of petroleum tankers electronically.
Bobboi, who made the disclosure at the Annual ValueChain Lecture and Awards on Wednesday in Abuja added that initiative has helped to eliminate products diversion.
The PEF is the agency of the federal government that helps in the distribution of products across the country.
He said: “The innovation is the automation that we have introduced which now tracks the products from point of loading to point of receiving at the depots. We monitor the movement electronically so that at least when products are loaded we know what quantity is loaded, you know the destination the product is going to. When it gets to the depot we also know the quantity that arrived safely until it gets to the marketer.”
However, the PEF helmsman said the agency was going a step further as it will now monitor products movement from the point of receipt to the outlet of the marketer.
He also revealed that very soon the Nigerian National Petroleum Corporation (NNPC) will begin to make the purchase of fuel online.
According to him, its a welcome development as it will eliminate ‘discretion’ and improve efficiency and transparency in the oil and gas sector.
“It will complement the work we are doing. Go online, where there is availability in any depot do your payment online. That eliminates discretion and brings about efficiency and transparency,” he also said.
In his welcome address, the Publisher of ValueChain magazine, Musa Bashir Usman, noted that the inability of the National Assembly to pass the Petroleum Industry Bill (PIB) hindering the growth of the oil and gas industry.
He called on the government to address the issue of repairing the refineries to get them working again.
“While we acknowledge various achievements made by this administration in the Oil and Gas Industry in their first term in office, however, it is important to point out that two sensitive aspects of the Industry are yet to receive deserved attention. The aspects which are namely Refineries, and Petroluem Industry Bill (PIB), are critical to the development of the Oil and Gas Industry.”
He called on all the stakeholders involved particularly the Executive and the National Assembly to ensure the speedy passage of the PIB and put measures that will make our local refineries work.
“At this juncture, I will like to commend the New GMD of the NNPC, Mallam Mele Kolo Kyari, for admitting, in his inaugural speech, that the nation’s oil and gas Industry is not at the place it’s supposed to be. That is a clear indication that he is coming with the zeal to improve on the current reforms embarked on by his predecessors. We want to assure the GMD of our support as he pursue this onerous task.
He said the awards is in recognition of those that have excelled in the oil and gas sector of the country.
“Two categories of awards will be given today; The rst is Valuechain Beacons of the Oil and Gas Industry and the second is Valuechain Stars of the Industry. While the former category seeks to identify and recognize the contributions of big players in the industry who are daily solving economic problems by generating employment opportunities, while the later category seeks to appreciate Individuals that are excelling in their career of managing the various Oil and Gas establishments, whether public or private,” he said.
Usman said that with 150,000 children born with SCD annually, establishing the foundation, Sickle Cell Foundation will go along way to give succour to those born with the disease.
“People living with sickle cell disease (SCD) in Nigeria are fighting daily battles with the disease to survive. For those of us who share the experience of what the SCD patients, especially children and their families go through on daily basis will understand the pressing need to support the patients with love, medication and counselling in order to ameliorate their sufferings.”
