The federal government wednesday in Abuja approved an automated fuel system management and censor network aimed at revealing the daily fuel consumption by tracking fuel delivery from the point of entry into the country to its final delivery in the petrol station.
Briefing journalists at the end of the weekly Federal Executive Council (FEC) meeting presided over by Acting President Yemi Osinbajo in the State House, the Minister of State for Petroleum, Dr. Ibe Kachikwu, said the move was an initiative of the Petroleum Equalisation Fund (PEF)conceived to assist in revealing the exact litres of petroleum being consumed in the country every day.
Kachikwu also said the adoption of the PEF initiative had become imperative in view of discrepancies in figures being bandied as daily fuel consumption in the country, and consequently affecting subsidy payment and remittance to federation account while a huge volume of petroleum products is illegally moved out of the country.
According to him, when the network becomes operative, every truck conveying fuel would be licensed with a driver and a transport company with a view to finding the transporter and the company that will take responsibility for any missing truck.
The minister also said with the advent of the network, the exact daily fuel consumption in the country would be known for the first time adding that the Nigerian National Petroleum Corporation (NNPC), Department of Petroleum Resources (DPR) and Petroleum Products Pricing Regulatory Agency (PPPRA) would collaborate effectively to achieve this aim.
He said: “The president has given a very serious mandate that we ought to rein in on his process. The essence of what PEF is doing is that this will enable us track refined petroleum product movement from the point of LC (letter of credit) opening from the vessels that come into Nigeria, up until the point where they are discharged into tanks in Nigeria, and from the tanks into trucks in Nigeria, monitor the trucks till they deliver the products into the storage tanks for the filling stations and they are discharged and sold.
“So, that will produce a 100 per cent holistic monitoring of this production. For the first time, we will be able to tell how much petroleum products we consume in this country because there has been so much going on in terms of the movement of consumption numbers from 30 something million litres a day to 70 million litres to 18 million litres a day during the difficult times.