The executive secretary, the Petroleum Equalization Fund (PEF), Alhaji Ahmed Bobboi, has said the automation of distribution system now helps to effectively monitor movements of petroleum products across the country.
Bobboi disclosed this at the one year anniversary of Valuechain Magazine, Lecture and Award, in Abuja, noting that the move has helped in stabilising products distribution and price equality in most parts of the country.
“We monitor the movement of the product electronically so that when products are loaded we know what quantity it loaded and the destination it is going to and when we get to the depot we also know the quantity that arrive safely and then it distributed to marketers so that this marketers will also sell within their own method of operation and also at the appropriate price,” he said.
Musa Bashir Usman, the publisher of Valuechain Magazine in his remarks, said the theme of this year’s event: ‘Nigerian Oil and Gas Industry in the last Four Years: Achievements, Gaps and Prospects,’ centred around the first four years of the President Muhammadu Buhari administration.
According to him, the theme was meant to applaud government where they got it right and point out the areas they needed to do more as well as expose new opportunities in the oil and gas industry.
He noted that two sensitive aspects of the Industry including Refineries, and Petroleum Industry Bill (PIB), were yet to receive deserved attention.
According to the publisher, the areas were critical to the development of the oil and gas industry.
He called on all stakeholders involved particularly the executive arm of government and the national assembly to ensure the speedy passage of the PIB and put measures that would make the nation’s local refineries work.