The Central Bank of Nigeria (CBN) has announced a comprehensive review of the allocation of terminals to Pre-Shipment Inspection Agents (PIAs) and their oversight by Monitoring and Evaluation Agents (MEAs) in the crude oil and gas sector.

The move, which takes immediate effect, is part of the Federal Government?s efforts to enhance efficiency in the sector and ensure transparency in crude oil exports.

In a statement issued by the Trade and Exchange Department of the CBN, the bank outlined the new distribution of terminals to PIAs, superseding previous allocations. According to the revised allocation, Neroh Technologies Ltd has been assigned to the Nembe Terminal, while Holborn Oil and Gas International Ltd will oversee Isan, Enna, and Yoho Terminals. Swede Control Intertek Ltd has been allocated Ima (Otahihvo), ERHA, and Aarca Terminals, while Felton Energy & Investment Ltd will now be responsible for Tunu, Antan, and Odudu Terminals. JBIS Integrated Resources Ltd will handle Avbam, Bonza, Ohoro, Akpo, Usan, and Forcados Terminals. Patibon Services Ltd has been assigned Ebok, Oso, Pennington, Okhworn, and E.A. Terminals. Offshore Bulk Inspection Co. Ltd will supervise Escravos, Brass, Anyala-Madu, Qua-Iboe, and Owuwu Terminals. Candid Oil Ltd has been allocated Uso Ocha, Abo, Agbami, Ohono, Balema, Bonny, and Ukpokiti Terminals, while Dakee Engineering & Construction Ltd (Gas) will handle LNG and Forcados Terminals.

The CBN also detailed the assignment of PIAs to specific Monitoring and Evaluation Agents (MEAs) responsible for overseeing their operations. Arlington Securitas Nigeria Ltd will supervise JBIS Integrated Resources Ltd, Offshore Bulk Inspection Co. Ltd, Holborn Oil & Gas International Ltd, Candid Oil Ltd, and Dakee Engineering & Construction Ltd (Gas). Meanwhile, DV Howells Nigeria Ltd will be responsible for monitoring Felton Energy & Investment Ltd, Swede Control Intertek Ltd, Patibon Services Ltd, and Neroh Technologies Ltd.

The Central Bank has urged all stakeholders, including the Nigeria Customs Service, the Nigerian National Petroleum Corporation Limited (NNPC), regulatory agencies, oil and gas companies, and terminal operators, to ensure compliance with the revised allocations. The bank noted that the restructuring is aimed at improving efficiency and maintaining strict oversight in Nigeria?s oil and gas export operations.

The directive, signed by A.A. Mahdi on behalf of the director of the Trade and Exchange Department, underscores the government?s commitment to enhancing transparency and accountability in crude oil and gas exports. All concerned parties have been advised to implement the new structure without delay. (BusinessDay)

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