FG inaugurates automated centre to deepen oil sector transparency

Posted by Edith Ike-Eboh | 13 October 2019 | 419 times

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•Petroleum Minister of State Timipre Sylva

The Federal Government has unveiled the Automated Downstream Operations and Financial Monitoring Centre (DOFMC) to deepen transparency in the oil and gas sector.

The Minister of state for Petroleum Resources, Chief Timipre Sylva, disclosed in a statement by the acting spokesman for the Nigerian National Petroleum Corporation Mr. Samson Makoji, in Abuja.

He said the activation of the DOFMC and launch of “Operation White”  were signs of the President Muhammadu Buhari-led administration’s commitment to stamping out sleaze from the oil and gas sector.

Represented by the Executive Secretary of the Petroleum Equalisation Fund, Mr Ahmed Bobboi, he called on all downstream stakeholders to work together to ensure the success of both the “Operation White” and the DOFMC initiatives.

The Group Managing Director of the NNPC, Malam Mele Kyari, said the establishment of the DOFMC would help in blocking leakages and boosting revenue of the Federal Government.

The GMD said NNPC was committed to ensuring the success of the “Operation White” and the DOFMC in line with its renewed stance on transparency.

On his part, the Managing Director of the Petroleum Products Marketing Company (PPMC), Mr. Bala Wunti, explained that the two initiatives would enhance efficiency in the delivery of petroleum products to ensure availability and affordability.

It would be recalled that Sylva, along with the NNPC GMD, inaugurated the “Operation White” team on Thursday at the NNPC Towers to achieve end-to-end tracking of petroleum products from landing point to the pump to stem cross-border smuggling and diversion. (NAN)

Source: News Express

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