The Petroleum Equalisation Fund (PEF) says it’s newly introduced automation distribution system has helped the monitoring of movement of petroleum products across the country.
Ahmed Bobboi, the Executive Secretary, disclosed this at the first anniversary of Valuechain Magazine and Lecture, an oil and gas publication in Abuja, on Wednesday.
He said that the fund in partnership with other stakeholders had achieved positive result in tracking the distribution of petroleum products in the country.
“PEF is collaborating with sister agencies in the industry to achieve this because it is NNPC that brings in fuel.
“In PEF, we play our part in paying for transportation and when the product is available, we need to distribute it.
“So, the innovation you are talking about is the automation that we have introduced which now tries to push the product from point of loading to point of receiving at the Depot.
” We monitor the movement of the product electronically so that when product are loaded we know what quantity is loaded and the destination it is going to.
” And when we get to the Depot, we also know the quantity that arrives safely before it is distributed to the marketers,” he said.
According to him, the marketers will also sell within their own method of operation and also at the appropriate price.
He said that the fund would continue to enhance it’s strategise to ensure effective distribution of petroleum products in all parts of the country at uniform price.
He further noted that PEF would continue to collaborate with NNPC, its subsidiaries and marketers to achieve results.
Earlier in his speech, the Publisher Valauechain Magazine , Bashir Usman, had called for speedy passage of the Petroleum Industry Bill (PIB) for effective growth and development in the oil and gas sector.
According to him, the passage of the bill will help propel efforts to get the refineries working.
He commended the effort and chievements of the outgone Group General Manager (GMD) of Nigerian National petroleum Corporation (NNPC), Dr Maikanti Baru, and called on the new management team of the corporation to consolidate on his achievements.
“I will like to commend the New GMD of the NNPC, Malam Mele Kyari, for admitting in his inaugural speech that the nation’s oil and gas industry is not at the place it’ssupposed 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 pursues this onerous task,” he said.
Commenting on the anniversary and Lecture, he said that apart from the lecture, stakeholders who had excelled would be honoured with an award.
”Our Editorial board has, over the period of the 12 months, identied and selected individuals whose contributions to the various Oil and Gas value-chain remained valuable and immeasurable.
“Two categories of awards will be given today; The first 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 recognise the contributions of big players in the industry who are daily solving economic problems by generating employment opportunities, the later category seeks to appreciate Individuals that are excelling in their careers,” he said.
Newsmen report that Alhaji Aliko Dangote, Dr Maikanti Baru, and Mr Ahmed Boiboi, Executive Secretary of PEF were among those that received the award.
The high point of the event was the inauguration of sickle cell foundation by the organisation to help the needs of those suffering from the disease.