The Petroleum Products Pricing Regulatory Agency (PPPRA) said it has concluded plans to introduce a vessel tracking device that will ensure better transparency in the import of fuel to the country.
This is contained in a document entitled: ``Highlight of key reform activities at PPPRA” and made available to the News Agency of Nigeria (NAN) in Abuja on Wednesday.
Mr Reginald Stanley, Executive Secretary of PPPRA, said in the document that the project was one of the numerous reforms aimed at engendering accountability and efficiency in downstream operations.
``Subscription to the Lloyd’s List Intelligence Sea Searcher Services for tracking vessel movements around the world will help determine the true origin and operations for vessels,’’ he said.
Stanley listed some of the reforms the agency was carrying out to include introduction of certified cargo inspectors and strengthening of the inspection system for products imports
He said, ``We have introduced a 3-3-2 inspection system to monitor products imports.
``With this, three inspectors nominated by the PPPRA will confirm vessel arrival quantities.
``The other three inspectors will confirm vessel discharged quantity, while two other inspectors will confirm the quantities physically trucked-out of the depots.''
The PPPRA boss said that the agency was committed to eliminating sharp practices and round-tripping by some marketers.
He warned that the agency would continue to withdraw import permits from non-performing marketers on a quarterly basis with a view to attaining international best practice.
Stanley, however, emphasised the need for full deregulation of the downstream sub-sector as a way of enthroning greater efficiency in the sector.
It will be recalled that the PPPRA recently pruned the number of marketers from 42 that participated in the scheme in the first and second quarters to 39 for the third quarter.
The agency recently granted fuel import approvals for the third quarter to 38 oil marketers and the NNPC to import 3.125 million tonnes of petrol (4.20 billion litres).
Mr Lanre Oladele, the agency’s spokesman, also told NAN that the reduction in the number of marketers would not lead to fuel scarcity in the country, but would ensure probity.
He said that the agency would continue to engage the marketers and other stakeholders as part of plans to ensure Nigerians were not short-changed. (NAN)