How new system will check petrol smuggling, hoarding DPR
On
By Obas Esiedesa – Abuja
The Department of Petroleum Resources, DPR, on Thursday launched a new digital system to monitor and track the distribution of petrol and other petroleum products across the country, saying it will check product scarcity and smuggling.
The Downstream Remote Monitoring System, DRMS, and inventory management solution for petroleum products supply and distribution is designed to provide a holistic view of the downstream value chain in real-time.
DPR Director/CEO, Engr. Auwalu Sarki explained at the official launch of DRMS that it would guarantee the availability and reliability of real time data for decision making and planning purposes.
However, the Minister of State, Petroleum Resources, Chief Timipre Sylva, at the launch of the Nigerian Upstream Cost Optimisation Programme (NUCOP) in Abuja on Tuesday said Nigerians should brace up for higher fuel price.
The NUCOP launch was to find ways of reducing the cost of crude oil production and processing, officials said.
Sylva also said with no provision of subsidy in the 2021 budget, the Nigerian National Petroleum Corporation (NNPC) couldn’t continue to bear the cost of under-recovery.
“Since we are optimizing everything, NNPC needs to also think about the optimization of product cost because as we all know oil prices are where they are today, $60. As desirable as this is, this has serious consequences as well on product prices.
Prepare for another fuel price hike - FG tells Nigerians - National Accord Newspaper nationalaccordnewspaper.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalaccordnewspaper.com Daily Mail and Mail on Sunday newspapers.