Nigeria to upgrade oil downstream sector, says DPR

THE Department of Petroleum Resources ( DPR), yesterday, said the Federal Government is making efforts to upgrade the downstream of the petroleum industry to global standard.

The downstream has the capacity to improve revenue from the oil and gas sector, increase contribution to Gross Domestic Product ( GDP), and create massive employment, but has been bedevilled by various challenges in Nigeria.

The Director/ Chief Executive Officer, DPR, Sarki Auwalu, at a virtual meeting with the members of the Major Oil Marketers Association of Nigeria ( MOMAN), however said the industry would leverage technology in its ongoing automation process for optimum performance.

According to him, DPR is currently deploying appropriate technology to enhance value for operators and investors alike in the downstream sector.

Auwalu also noted that DPR has concluded plans to launch the Downstream Remote Monitoring Systems ( DRMS), an inventory and regulatory tool designed to track product levels across retail outlets and depots using the short code- * 7117#. The development according to him will create value for the sector by providing access to data for efficient management of their operations.

Auwalu assured that DPR as partners in progress will continue to engage with MOMAN to ensure seamless communication and feedback on its regulatory activities.

He also said that DPR has developed a framework around quality, quantity, integrity and safety ( QQIS) for petroleum products in response to the current situation of price freedom in the downstream sector. He lauded the support of MOMAN for the gas expansion programme of the government, and advised the Association to ensure their members compliance with the gas add- on directive for their stations, as they are the energy bridge of the nation.

The Chairman of MOMAN, Tunji Oyebanji, assured the DPR of the marketers’ readiness to always partner with the Department for the development and growth of the downstream sector. He applauded the technology deployment by DPR in its operations, which has enhanced its approval processes and data collection drive.

THE memory of the defunct Nigeria National Shipping Line ( NNSL), came to focus at a symposium organised in honour of the former Chairman of Ship Owners Association of Nigeria ( SOAN), and CEO of Starzs Shipping Company, Greg Ogbeifun, turns 70 today.

At a virtual symposium, which focused on the possibility of building an indigenous global shipping fleet, experts explored the need to resuscitate the country’s national carrier to reduce capital flight following the death of the NNSL.

Ogbeifun recalled the heydays of the NNSL, saying Nigeria played an active role in the shipping business when the company was active. “Besides, the Nigerian shipping line, there were some private initiatives by individuals like Capt. Emmanuel Iheanacho, who flew the Genesis flag around the world and a few others,” he added.

He noted that as a result of the nonexistence of a national carrier, Nigeria loses over $ 41 million daily to other countries. According to him, the loss includes tax revenues and jobs that would have been created back home.