FG Approves N17bn Technology to Track Nigerians’ Fuel Consumption

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.

 

Source: EnergyMixReport

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