To facilitate transparency in the downstream sector of the oil industry, the Marketers Association of Nigeria(MOMAN) has called for the automation of the industry.
Inadequate investment in modern technology to drive data collation has been identified as a major factor affecting initiatives to promote transparency and accountability in the country’s downstream oil industry.
Executive secretary of MOMAN, Mr Clement Isong, while speaking at a virtual workshop on world international data day in Lagos, emphasised the importance of data and automation in the downstream business.
He said, automation will ensure transparency and boost excellent customer service, eliminate fraud, and corruption and clean up the reputation of the industry.
He urged the Nigerian Midstream and Downstream Petroleum Regulatory Authority(NMDPRA) to invest in infrastructure for data gathering. Isong said: “our position in MOMAN is that we arelooking for the automation of the entire supply chain. It will mean everybody needs to invest in order to optimise their businesses.”
He said: “the beneficiary eventually will be the customer, adding, It is good for corporate governance. It removes people’s ability to steal and the authority (NMDPRA) itself has got to invest in infrastructure for data gathering and has got to do a preliminary analysis of that data and has to put up that information on its website which investors, marketers operators, and everybody can access.”
On that basis, he urged the agency to optimise the business and make investment decisions.
“It is fundamental to a deregulated system. It improves the quality of decision-making as well as transparency and eliminates bad behaviour as well as fraud and theft. You have to shine your light and darkness and bad practices will disappear. This is very important,” he added.
