Ministry moves to check unreliable oil production metering
The Ministry of Industry, Trade and Investment has said it has initiated the process of procuring new measuring equipment to address the issue of poor oil production metering, which has resulted in significant revenue loss for the government. According to industry experts, metering errors account for almost half of the reported oil losses, rather than […]
The Ministry of Industry, Trade and Investment has said it has initiated the process of procuring new measuring equipment to address the issue of poor oil production metering, which has resulted in significant revenue loss for the government.
According to industry experts, metering errors account for almost half of the reported oil losses, rather than outright theft.
In response, the ministry said it plans to acquire new equipment and build the capacity of staff members to address the anomaly to prevent further revenue loss.
The Permanent Secretary, Ambassador Nura Abba Rimi, stated this yesterday during a capacity-building workshop for zonal coordinators of the ministry’s Weights and Measures Department held in Koroduma, Karu LGA of Nasarawa State.
Rimi, who was represented by Mr Dafang Sule, a director in the ministry, said the measuring equipment was part of the ministry’s 2024 approved budget and will be purchased once funds are released.
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He said the new meters would enable authorised Weights and Measures officers and oil firms to accurately report crude oil production, addressing poor metering and revenue loss.
However, participants at the workshop lamented poor working conditions in their zones, including inadequate office space, vehicles, measuring equipment, desks, and computers.
They expressed concerns that these challenges have led to a loss of respect from industry players.
Responding, the Director of Weights and Measures, Mr Olajide Adesuyi Bamidele, acknowledged the issues and assured that the ministry is working to address them.